Earlier this year, the White House announced that President Obama was forming a task force to make recommendations to simplify the tax law, reduce corporate welfare and reduce the tax gap (see my 3/25/09 post).
Recently, the task force announced that it was seeking ideas from the public that addresses any of the three goals for this project (click here). The deadline to submit comments is October 15, 2009. The task force is to issue its report by December 4, 2009.
What would you tell the task force?
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I think Corporations should also be given a preferred rate for Capital gains like individuals (Right now individuals pay 15% tax on long term capital gains).
Especially in this economy, businesses are selling capital assets to generate cash flow in the company and such rates would definitely be helpful for the companies.
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