Happy President's Day!
Our current system of taxation originated in 1913 with the adoption of the 16th Constitutional amendment - though the tax code is far more complex today.
Our choice of who will be the next President will have a major impact on the tax code. And with all of the talk of taxing the wealthy, there might be some unintended consequences on the middle class.
What some people call "loopholes", other people call "deductions". And they aren't just for the rich!
http://www.bloombergview.com/articles/2016-01-05/closing-tax-loopholes-would-choke-the-middle-class
Trivia question - who was the President of the US in 1913?
