Tax reform decoded

A new Tax Policy Center report “shoots more holes in the popular mythology that some sort of comprehensive 'tax reform' will offer the White House and Congress an easy path out of the country's debt and deficit problems.”

If Congress has any hope of defeating armies of lobbyists and doing away with beloved tax breaks like the mortgage interest deduction, it will take bipartisan cooperation. The two parties will have to hold hands and jump off this particular cliff together. And even by taking 100 percent of the tax breaks away from the wealthiest Americans, the Tax Policy Center analysts could not keep the tax code from growing more regressive under the Romney plan.

How will real reform work? You can read more here.