Tax reform is all the talk in Washington these days, and President Trump has stressed that one of his main goals in tax reform is to make taxes fairer by leveling the playing field for all businesses.
The first thing Congress and the president should do if they’re serious about fairness is to stop picking winners and losers in the marketplace using the tax code.
An obvious example of this troubling practice is the unreasonable tax advantage that credit unions have over banks. Credit unions don’t pay any taxes at all, while banks pay massive tax bills – even though credit unions compete with banks and provide the same services to customers.
