Although tax experts from across the spectrum predict that a real tax reform is in our future, they are divided on how soon it will happen or what form it will take.Mark Weinberger, former Treasury assistant secretary for tax policy, said during a recent Tax Analysts-sponsored Webcast that tax reform will eventually happen. However, said Weinberger, currently Americas vice chair for tax services for Ernst & Young, the structure and timing are still up in the air.
Meanwhile, a new study indicates that the real obstacle to tax reform may not be the army of Washington lobbyists who fight to protect various deductions and exemptions, but the fact that the country is divided between a growing class of people who pay no income taxes and a shrinking class of people who bear the lion's share of the burden, according to Tax Foundation president and economist Scott A. Hodge.
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