Economists participating in the RATE panel indicated that many corporate lobbyists, who earn their keep pushing for tax loopholes, and accountants who help firms exploit those loopholes would be reluctant to support an overhaul that obliterates their go-to policies.
“I’m not trying to put accountants or lobbyists out of business,” said Jason Fichtner, senior research fellow at George Mason University’s Mercatus Center and a former acting deputy commissioner of the Social Security Administration. But, he noted, the country needs a reformed corporate tax structure.
And at least in the near term, with tax reform on the agenda, tax lobbyists need not worry about going out of business, especially as companies and industries battle among themselves.
Terri Henderson, 6, center, whose mother is El Salvador, attends a rally with members of Congress at Union Station's Columbus Circle to announce the Restore Opportunity, Strengthen, and Improve the Economy (ROSIE) Act on July 29, 2014. The legislation provides incentives for government contractors to pay a living wage and other benefits that would help low-income workers.