In 2010, while immersing myself in law school, I stumbled upon a rather surprising revelation: I genuinely enjoyed the Federal Income Taxation course. During that period, a significant legislative topic making waves was the Bipartisan Tax Fairness and Simplification Act of 2010, which aimed to streamline our complicated tax system.
Despite widespread consensus on the benefits of a more straightforward tax code, not everyone was on board. The multibillion-dollar tax preparation industry stood firmly against it. Consequently, the Bipartisan Tax Fairness and Simplification Act of 2010 never saw the light of day and ultimately succumbed to the unfortunate fate of promising legislation that failed to advance in Congress.
Fast forward to 2024, as Elon Musk prepares to assume control of the quasi-governmental entity known as DOGE in the upcoming year. Musk boldly proclaimed on his platform X that a simplified tax code would “enhance productivity” and curb “strange tax-avoidance tactics.”
While the specifics of Musk’s intentions remain largely undisclosed, preliminary insights suggest his approach may involve the elimination of numerous deductions and a reduction in the current seven income tax brackets down to just two or three. This concept rings a bell, doesn’t it? It echoes the proposals from the Bipartisan Tax Fairness and Simplification Act of 2010, which advocated for three tax brackets, a higher standard deduction, and the removal of many narrowly defined deductions benefiting special interest groups.
And you know what? That’s perfectly acceptable. If Musk wants to take credit for advocating for a simplified tax code, and if Donald Trump is able to translate seemingly beneficial proposals into actionable policies through a Congress he commands, then so be it. We shouldn’t undermine progress simply for the sake of pride.
Recently, Trump has also reignited the conversation around abolishing daylight saving time, a concept he previously proposed in 2019. He assured supporters that the Republican Party would strive to “eliminate” the biannual clock changes.
Once again, we find ourselves confronting a solid idea. While it may not be entirely original, who really cares? With the Republican Party poised to control both houses of Congress and the White House in 2025, if they truly want to abolish daylight saving time, they should have no trouble doing so. This change could provide significant benefits to everyone affected.
In another development related to DOGE, Musk has voiced concerns about excessive spending at the Pentagon and criticized the wasteful practices of private defense contractors who exploit an inflated budget. This stance is particularly ironic considering that Musk’s own enterprises have secured substantial contracts from the Defense Department. Regardless of irony, this position has garnered him potential allies on the progressive side, such as Vermont Senator Bernie Sanders, who asserted that Musk was “right” about the rampant waste in defense spending. Sanders pointed out that the Pentagon “lost track of billions” and that the “defense budget [is] rife with waste and fraud.”
The idea of disentangling the commercial defense sector from the military, which have become inextricably linked, and simultaneously saving taxpayer dollars is far from a novel concept. In fact, this principle dates back to when Dwight Eisenhower discussed it in his farewell address.
However, the challenge with implementing good, albeit repetitive, ideas is that many have been attempted and ultimately failed in the past. Musk’s experience as a corporate executive differs significantly from navigating the complexities of Congress. It will be interesting to observe how much influence DOGE holds over lawmakers, particularly when confronted with a swarm of lobbyists from the tax preparation and defense sectors.
Is any of this feasible? There are definitely skeptics surrounding DOGE.
Nonetheless, Trump possesses a particular advantage. Even though his attempts to promote national unity have often been viewed as farcical, he has undeniably succeeded in rallying the Republican Party to unite under his leadership, which means doing whatever Trump orders. With nearly every Republican now a proven Trump loyalist, and with Musk’s threat to finance primary challenges against any dissenters within the GOP, some of these proposals may have a greater chance of being realized than they have in a long time.
In the meantime, there’s no advantage in being overly critical. The new Trump administration is bound to introduce a plethora of questionable ideas. It would be prudent to support the few beneficial ones that may emerge.
While you may not be overly excited about the festive season this year, take solace in the possibility that a few worthwhile ideas could gain traction in the coming year. Another Trump presidency, alongside the world’s wealthiest individual steering a faux governmental efficiency office, may not be the holiday gifts we desire, but they certainly reflect the gifts we might just deserve.
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