A tax system is like a ship. It needs to be hauled into drydock every so often to have the barnacles scraped off.
We’re long overdue for major tax reform in the United States. Typically, we’ve had major tax reform roughly once a generation. As I say, we’re overdue.
Axiom: no major reform (particularly in the tax system) takes place during campaign season.
Corollary: nowadays it’s always campaign season.
