How Heroic was the Revenue Neutral Tax Reform Act of 1986?

Published by Michael Novogradac on Tuesday, August 21, 2012 - 12:00am

How heroic was the revenue neutral Tax Reform Act of 1986?  How much political courage did lawmakers exhibit?

Bear in mind $36 billion was raised over 5 years by closing tax shelters and corporations were asked to pay an extra $120 billion over the same 5 year period.

Which meant there was about $156 billion for individual tax cuts over 5 years.

Yet, tax reform was still hard, and took a couple of years.

So how hard will revenue neutral Tax Reform be in 2013?

Let me know your thoughts in the comments section below.