Think Tax Reform is Difficult? Try Reading the Tax Code

72,536: Pages of the US tax code in 2011

Recent debates about fiscal issues bring to light questions about tax policy. Debates over tax policy can quickly become heated, but it does seem clear that long-term structural reform is needed. The US tax code is extremely complicated, clocking in at 72,536 pages in 2011 according to tax information service CCH. That is almost triple the number of pages from 1984, and up about 150-fold from 504 pages in 1939. Not to mention that within the current code there are 173 different tax credits and deductions. In addition, at the end of 2011 the code had more than 100 temporary provisions set to expire within two years. Hoping for significant structural tax reform? Better hope Congress can speed read!

Source: BlackRock, CCH

http://www2.blackrock.com/

Prepared by BlackRock

Delivered courtesy Joel W. Grams, CRPC^®, CLTC,

Registered Representative, Financial Planner, 212 Capital Group

38 Main Street Suite 360, Westlake Ohio 44145

(440) 835-4501 Ext 17, jgams@212capitalgroup.com

The foregoing discussion is general in nature and not intended as specific advice.
New England Financial nor its representatives are engaged in rendering tax,
accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.

For information on New England Financial insurance or other financial products and services, please contact Joel W. Grams, CRPC^®, CLTC, Registered Representative, Financial Planner with /New England  Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, jgrams@212capitalgroup.com www.212capitalgroup.com