Most Americans will be able to file taxes on a single sheet of paper. What do you think about that, Kevin? We're still there, are there gonna be a UEFA president? Trump is really excited about the new tax return form, but the idea of Americans doing taxes on a postcard is a fantasy. The US tax code is complicated, it's thousands of pages long, including long definitions for deductions and various loopholes for special interests. For example, there's a tax credit for chicken farmers to turn poop into energy. For Republicans, the postcard size tax return represents what would be a simpler overall tax code, one without deductions, tax credits, or multiple brackets, which is why they've been calling for it for years. A postcard-type tax return with no loopholes and deductions, you file your taxes on this. Imagine a simple flat tax that lets every American fill out his or her taxes on a postcard. This postcard form will simplify the number of tax brackets by more than half, so Republicans finally got their opportunity to reform taxes in 2017. They made sure to keep that postcard promise. Notice, got the smaller version that fits in my pocket. You can barely read it, but if you compare it to the old tax form, you'll see that the new form is more of a condensation than a simplified form. The line that allows you to deduct your student loan interest is not on the postcard-sized version, but the deduction still exists along with 11 others that used to be in the main form. They've just been moved onto a different sheet of paper, which means that now you could have to fill out as many as six other forms in order to file your tax postcard. In trying to...
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