If a rich person shorts Intuit stock, spend $5-10 million developing a really slick tax program, and releases it for free, could they break even?
They could make it a charity, and the $5-10 million would be tax deductible on top of it.
At that point, maybe Intuit wouldn't have the motivation to keep the tax code complicated. Then we could move to a simplified system at the speed of congress.
I think the sticking point is that during that transition you have to have people to release the constant updates that currently happen. Maybe they can be volunteers, but maybe not.
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[ 2.8 ms ] story [ 19.7 ms ] threadThey could make it a charity, and the $5-10 million would be tax deductible on top of it.
At that point, maybe Intuit wouldn't have the motivation to keep the tax code complicated. Then we could move to a simplified system at the speed of congress.
Prior to reading ProPublica’s exemplary reporting, I had no idea how truly duplicitous some of the market leaders can be.
https://www.propublica.org/article/inside-turbotax-20-year-f...