Some great things happened in 1986, but thankfully, we've come a long way since then. Unfortunately, America's tax code has not kept up with the changing times. In fact, it has only gotten worse with all the special interest loopholes, carveouts, and regulations added over the last 31 years. As a result, the United States is falling behind the competition.
Here are eight throwbacks to remind us of some good things from 1986, but also to remind us why it is important to not stay stuck in the past.
1986: The year Speaker Ryan got his driver’s license and the last time the Chicago Bears won the Super Bowl (SAD!). It’s also the year we last reformed our country’s tax code. And just like the rotary phone of the 80s, the American tax code is seriously outdated. As a result, we have a tax system that’s hurting American families and businesses, costing us jobs. These eight things have received a much-needed update, and it's time our tax code gets one, too.