President Trump isnt draining the swamp. He unveiled his long-awaited tax reform package last week, and although many crucial details were missing (for example, the income brackets), he was full of accolades. This is a revolutionary change, he said.
Well, not yet.
The federal income-tax system almost everyone seems to agree is a mess. It features relatively high nominal rates (up to 39.6 percent on individual income and 35 percent on corporate income) whose impact is offset by a baffling array of tax breaks, loopholes, preferences or tax expenditures, depending…

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