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I agree with you. Some tax law is from lobbyists & some is from tax nerds. Congress doesn't have enough time to read laws (and they simply aren't qualified fo

I agree with you. Some tax law is from lobbyists & some is from tax nerds. Congress doesn't have enough time to read laws (and they simply aren't qualified for tax law - some requires CFA-level understanding of accounting / finance). For the specific tax law that taxpayers have leveraged that the IRS now doesn't like, I'm pretty sure it came from an IRS nerd. The Residual Profit Split Method. That one could only have come from a new grad.

dragonwriter 6y ago
> Congress doesn't have enough time to read laws (and they simply aren't qualified for tax law - some requires CFA-level understanding of accounting / finance). Individual members may not, but they probably have legislative staffers that do, and the staff (majority and minority) of the tax committees, who prepare and distribute analyses of all tax bills, definitely have the skills to read, understand, and explain the implications of tax bills. Members of Congress may not care, but they definitely have access to a competent understanding of proposed tax laws.