This is discussed year in and year out...Over and over and over.
The reason this punitive tax structure is never ending and never dramatically changes to the benefit of tax payers, is because the government does not want to do anything which will affect the massive amount of money government consumes.
End of story.
You’re right about that. I know it certainly won’t end in my lifetime except that I do think the percentage floor on deductions will continue to go up and the number of deductions will continue to decline.
The 25-something generation is not going to be buying any houses soon so that will do away with real estate taxes and interest payment. I also doubt if they make any significant donations to either charities or their church so there goes that. Slowly but surely the government is whittling everything down so we will all be filing on a short form.
Talking about changes to taxes IRS is on a par with discussing who will be the presidential candidates in 2016.