With what appears to be another shot at planned obfuscation, the House Ways and Means Committee is mumbling about indexing of capital gains. Why take a simple concept and twist it and torture it into a maze of bookkeeping confusion?
Either accept the fact that capital gains treatment is advantageous for the citizens and the economy, or else abandon the idea entirely. But please, don`t give us another tax category that requires extra hours of research and analysis in order to complete our tax returns.
Over the years, tax reporting has become a horrible waste of man hours for most of the population. Thanks to the mounting abundance of new tax laws and revisions, we are fast becoming a nation of full-time bookkeepers.
Taxes should be so simple and clear-cut that the IRS agents can understand the laws and be able to provide uniform answers to specific taxpayer inquiries. That certainly isn`t the situation today.
