Bush names committee to study tax code reform
A18:
This is actually a few weeks old, but it looks like he's going to keep his second term campaign promise:
http://washingtontimes.com/national/20050108-123151-4436r.htm
January 8, 2005
President Bush yesterday appointed a commission to think of ways to simplify the federal tax code, giving it until July 31 to report its ideas.
...
The president did not offer any specific ideas of his own, but conservatives have been pushing the White House for radical action — either implementing a flat tax or a federal sales tax that would eliminate the income tax.
...
Most Democrats have opposed Mr. Bush's tax cuts and are concerned that his reforms will reduce the progressive nature of the status quo, where the wealthy pay most of the federal income tax. [insert yawn]
Two studies:
http://www.heritage.org/Research/Taxes/BG1134.cfm
http://www.cato.org/pubs/pas/pa-272.html
A18:
"This thing is on fast track as far as the timing is concerned in comparison to other advisory commissions," Mr. Breaux said.
Mr. Snow said he expects the commission's work to lead to legislation that can be taken up in Congress before the end of the year.
David S:
Personally I like the Libertarian idea of eliminating the income tax and replacing it with nothing. But any of the choices above would be better than the current system.
A18:
And just a month ago you were saying Republicans were all talk.
Richard:
They're all far better than what you have now, but still terrible. Replace it with nothing. If I had to pick one, I'd go with a consumption tax with exceptions.
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