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15 Things That Remind You How Long It's Been Since The Last Major Tax Reform
Washington,
April 16, 2015
15 Things That Remind You How Long It's Been The tax code hasn't been overhauled since 1986 under President Ronald Reagan. That was nearly 30 years ago!
The Halo of its generation. Hooky at its finest. 4. Robert Palmer topped the charts with Addicted to Love. And vinyl backdrops with clouds were really cool. 5. Pee Wee's Playhouse premiered. 6. Mike Tyson won his first-ever boxing title. 7. Lady Gaga was born. 8. Top Gun was the highest grossing film of the year. 9. Fujifilm released the first disposable camera.
A classic staple for any fanny pack. 11. McDonald's advertising took a slightly different angle. 12. Tang was consumed by the gallons. 13. High fashion looked like this. 14. Cool Ranch Doritos made their debut. 15. Minority Leader Harry Reid was elected to his first term in the U.S. Senate. As you can see, time has gotten away from us. Reminiscing about these 1986 highlights can be fun, but operating with a tax code of that era is unfair to businesses and individuals, alike. And because 85 percent of small businesses file and pay taxes as individuals, any conversation about tax reform must not leave Main Street behind. The time for comprehensive tax reform is long overdue. |