Musk Seeks Simplifying Tax Code
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simplified tax codeGOBankingRates
•Business
Business & Economics
Elon Musk Wants To Simplify the Tax Code: What That Means for Future Tax Refunds
79% Informative
President-elect Donald Trump is set to appoint billionaire Elon Musk and former Republican presidential candidate Vivek Ramaswamy to oversee a Department of Government Efficiency .
Musk claimed in a post on X (formerly Twitter) that doing so would “increase productivity” instead of “incentivizing bizarre tax-avoidance behavior” The average American could benefit greatly from a proposed simplified tax code as it allows for a more straightforward filing process.
“The changes can take several years to implement because the process involves drafting new legislation, passing it through Congress , and allowing sufficient time for the IRS and the taxpayers to adjust to the new system.” All in all, the total implementation could easily be a multiyear process. More From GOBankingRates This article originally appeared on GOBankingRates.com: Elon Musk Wants To Simplify the Tax Code : What That Means for Future Tax Refunds.
VR Score
77
Informative language
71
Neutral language
82
Article tone
semi-formal
Language
English
Language complexity
58
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Attention-grabbing headline
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short-lived
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22
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