When it comes to tax reform, President Obama won't even attempt to play Ronald Reagan on TV. That much is clear from his State of the Union address last night, which had nothing about real tax reform.For those who thought that corporate tax reform was on the horizon, forget about it. The President's idea of corporate tax reform is to lower the rates by rearranging the winners and the losers according to his preference, no more. So from now on, all he will do is talk, and delay, and do nothing about corporate taxes.
The way I see it, we must cut government spending, and raise taxes on everyone, and truly rely on the innovation of the American people - not the government - to get us out of our current, terrible fiscal mess - which the government got us into. Last night should have been a call to action and sacrifice. Instead it was a call for more government.
View TaxAnalysts' Chris Bergin's opinion in its entirety on TAX.com.
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