Again, that was an insane bill that was passed in 2000.
Congress does, what it always does, I mean they will throw more money at the problem.
If we would transition to cash-based income, it would simply be a timing difference.
My whole point--any of the three witnesses think that the U.S. tax system is simple and rational?
What would we potentially accomplish, for example, just moving to cash-based income?
I'd love to hold a hearing on how do we simplify and rationalize our Tax Code.
the fact that we don't tax worldwide income that sets up the whole complex issue of transfer payments.