I still feel that the tax code should be simple enough that the average college graduate ... should be able to prepare his own return.

Time for Lorenzo's annual rant:

I guarantee that the tax code would be greatly simplified - and quickly! - if congress would pass a law with but two provisions:

1. All members of congress, as well as senior officials of the executive and judicial branches (to include the president) would be required to fill out their own returns, all by themselves. That is, no outside help or advice would be allowed: no accountants, financial planners, attorneys, and the like could be involved.

2. The IRS would assemble a team of its meanest, most grizzled auditors, who would then subject each and every one of the aforementioned returns to a full compliance audit.