Thirty-one years ago this week, President Ronald Reagan signed the Tax Reform Act of 1986 into law. This date is particularly significant: It was the last time Congress and the president worked together to overhaul our tax code.
The world today looks vastly different from the world in 1986. It is much more connected, globalized and driven by new technologies and the internet. But our tax code is stuck in the days where the Chicago Bears were winning the Super Bowl and "Top Gun" was number one at the box office.