They’ve never closed a loophole without opening 10 more. It’s why the tax code has ballooned each and every year and why at this point no one understands it. The software companies can’t even keep up with the pace of change. If we’re not going to wholesale change it, just eliminate the 20% QBI deduction, roll back the rates to where they were, roll back the estate exemption and pull in trusts and other planning vehicles back into the estate, increase the CG rates, and add a few other things to get rid of some of the lopsided benefits that have been put in place.
We just worked a deal to transfer a large corporation to family members through trusts in a tax free setup that will avoid estate/gift taxes and CG taxes because of a bullshit loophole that a local law firm is taking advantage of. It’s the most lopsided transaction I’ve ever seen from a tax standpoint and it’s 100% by the book as of today.