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Tax code changes - don't hold your breath

2lion70

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Jul 1, 2004
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http://money.howstuffworks.com/personal-finance/personal-income-taxes/us-tax-code.htm

"If you think that tax forms are unnecessarily complicated, wait until you see the tax code. Officially called the Internal Revenue Code, the tax code is written by Congress and is currently more than 3.7 million words long [source: Olson]. Luckily, the tax code wasn't written all at once. Rather, it's a compilation of all tax laws written and passed by Congress since the ratification of the Constitution in 1788.

The Constitution gives Congress the power to levy taxes for the collection of revenue. Article 1 Section 8 of the Constitution reads, "The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States." However, income tax as we know it didn't exist until the ratification of the 16th Amendment, in 1913."
There is nothing Trump or any other POTUS can do on their own to change the Tax Code. That's a role of the Congress which requires the Senate and their special rules to approve. Tax code changes have been talked about for decades and very little of substance has ever been done. Special interests always get in the way.
 
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