By the end of the week, the much talked about federal tax reform could be well on its way to becoming a reality.
Whether that’s good or bad depends on who you talk to, because as the old saying goes, the only good tax is one someone else pays.
A recent story about in the Omaha World-Herald caught our attention. It dealt with an effort being made by Republican lawmakers to roll back or eliminate the state and local tax deduction that reduces the amount that some Americans owe each year.
What caught our attention was this sentence: “The lawmakers argue that the current deduction requires filers in states such as Nebraska and Iowa — who generally pay less state and local taxes — to subsidize those in higher-tax areas such as New York, New Jersey and California.”
Nebraskans and Iowans pay less state and local taxes? When have you heard that one before?
Back to tax reform: We hope the end result are tax laws that had input from both parties, not one. Right now it’s a Republican tax plan. Ignoring good ideas from the Democrats isn’t good and certainly won’t help heal the divide that still exists.
Those we elect seem to quickly eliminate the word “compromise” from their vocabulary, and until they find a dictionary to reacquaint themselves with its meaning, economic policies that help folks in all tax brackets may not happen.