In the famous “Bridge of Death” scene in Monty Python and the Holy Grail, some of the knights are asked to name their favorite color. One of them mistakenly says blue instead of yellow and is hurled into the Gorge of Eternal Peril.
I can sympathize with the unfortunate chap. If asked my least favorite part of the tax code, I sometimes get confused because there are so many possible answers.
Do I most despise the high tax rates that undermine economic growth?
Am I more upset about the pervasive double taxation of income that is saved and invested?
How about the distorting loopholes for politically connected interest groups?
And the anxiety of taxpayers who can’t figure out how to comply with an ever-changing tax code?
Depending on my mood and time of day, any of these options might be at the top of my list.
But I also might say that I’m most upset about the way that the tax code facilitates a perverse form of legalized corruption in Washington. In this FBN interview, I explain how even small tax bills often are vehicles for lining the pockets of lobbyists and politicians.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 26th, 2014 | John Ransom