Thursday, April 15, 2010 | 2:03 a.m.
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It’s the time of year that almost everyone’s attention is turned to income taxes. We have a tax system so complicated that most taxpayers have to hire professional help to fill out the forms. In past years, it’s been shown that even the Internal Revenue Service cannot give consistently accurate assistance to taxpayers on its helpline.
The tax code has evolved from simply raising revenue for the federal government to an instrument that encourages certain economic activities and discourages others. It is so complex the IRS has trouble enforcing it. An IRS study in 2005 estimated that more than $300 billion owed each year goes uncollected.
Serious consideration should be given to simplifying the tax code so everyone could understand it and taxes due could be collected. I have no illusion that this could happen easily because every deduction or tax credit has a constituency that would fight to retain its tax advantage. The most likely effect of trying to simplify tax codes would be full employment for lobbyists.
Whatever happened to the KISS (keep it simple, stupid) principle?
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