Do something

Several years ago, Congress passed a law that completely eliminated the estate tax starting January 1, 2010. I remember thinking: "Oh, but that will never happen. Congress will act way before then."

So young. So naive.

Regarding this and many areas of tax law, I just want to shout: "Do something!" In the words of Seth Godin:

Make a decision. It doesn't have to be a wise decision or a perfect one. Just make one. In fact, make several. Make more decisions could be your three word mantra. No decision is a decision as well, the decision not to decide. Not deciding is usually the wrong decision. If you are the go-to person, the one who can decide, you'll make more of a difference. It doesn't matter so much that you're right, it matters that you decided. Of course it's risky and painful. That's why it's a rare and valuable skill.

Sadly, it appears Congress is not made up of people with this rare and valuable skill. And it doesn't look like the current administration is in a big rush either. Kay Bell recently wrote about Treasury Secretary Timothy Geithner's comments at an economic conference last week in New York City:

Asked about the prospects for tax reform, Sheppard reports that Geithner dodged the question and indicated that it would be far down the line. Economic growth and public confidence about the economy's future take precedence, he said, followed by deficit reduction, which would require tough political choices.

With those items before it on the policy to-do list, it's probably safe to say that Obama's stab at tax reform is going to suffer the same sad fate as did Dubya's tax revamp effort.

We've got our work cut out for us. Still, I like to think that if we keep telling Congress to "Do something", we just might get somewhere... someday.