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Flow-Through Relief – Senate Version Of Tax Bill Is Much Better For The Little People

One of the themes of the various Republican campaigns was about how awful it was to have a 70,000-page tax code.  Never mind that that was inflated by a factor of more than ten.  Making the Code shorter was a priority.  It is true that the bill might make returns easier for most of the little people because a lot fewer people will itemize.  The taxation of business income is, however, much more complex under either version.  And with the Senate leaving the AMT in effect, I think we will see the page count increase significantly.

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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.