The unintended consequence.....TAX REFORM?

The well documented incompetence exhibited by both parties over the last twenty to thirty years over issues of energy and the equally important modernization and oversight of our financial markets could cause something that is yet to be on the media radar screen and that would be the total or at least partial (because they are inept after all) reform of our tax code.

The reason is very simple. We as a country are broke. Yes we can print money but that can have toxic consequences and we really don't want to go there. As the need to spend spreads like a rash with our so-called leadership they will need to find money someplace else.

That means they will have to raise more money. Nobody in their right mind will raise taxes (but we are talking about congress) so the only other way for congress to navigate through this will be to find ways to revamp the tax code having a neutral impact (or close to it) on the taxpayer. One example could be the national sales tax or the flat tax in one form or another.

The cost to collect a national sales tax would be substantially cheaper than to run the IRS. Ask your local state, county or town how easy it is to collect sales tax. Saving collection costs and raising more revenue at the same time sounds good to me plus the anxiety of tax time would go away and I don't know about you but I wouldn't miss it.

Listen to your candidates local and national. The national candidates will promise health care and this and that but the truth is whoever gets into office will then tell us it is worse than they anticipated (our finances) and we have to get our house in financial order first before we take on anything.  So my advice to you is lower your expectations otherwise you will be disappointed. Pick the candidate you feel can navigate us through this in a professional manner with competence.

Remember to VOTE. Do not pick a candidate because they have R or a D next to their name vote for the candidate because you believe they are qualified. No party has high ground on the issues we face today. We need our representation to work together.

As we trudge through the muck of lack of oversight, bad behavior and calamity we still have low housing prices, low rates and money to lend despite what you hear in the media. Add a friendly tax code things could be looking and "feeling" better over the next twenty-four months or hopefully sooner.

This is my little silver lining for the day. I may change my mind tomorrow but we will see.