Tax Reform Proposal "a Curse in Disguise", According to TheStreet Analyst

Jan 25th, 2017

"At the core of the initiative is the simplification of the tax code by lowering corporate tax rates, which would likely reduce the average corporate tax return to the 'size of a postcard.' ...There is no doubt that the U.S. needs tax reform ... make it simple. But the problem, as always with tax reform, is the specifics. ...there always seems to be one specific tax code that is a sticking point: the 1031 Exchange. Ironically, the 1031 Exchange is the one tax code that, if abolished, could most harm the American middle class."