This article originally appeared in Real Clear Markets. Click here to read the full article.
By Ike Brannon
Tax reform may involve simplifying the tax code, but actually achieving such a thing promises to be a terrifyingly complicated process. The battle over how (and by how much) to reduce the various tax deductions, credits and exemptions that litter the code will be contentious enough; reaching agreement on how to divvy up the revenue generated by this exercise between reducing the debt and lowering tax rates seems almost intractable.