••can ye pass the acid test?••

ye who enter here be afraid, but do what ye must -- to defeat your fear ye must defy it.

& defeat it ye must, for only then can we begin to realize liberty & justice for all.

time bomb tick tock? nervous tic talk? war on war?

or just a blog crying in the wilderness, trying to make sense of it all, terror-fried by hate radio and FOX, the number of whose name is 666??? (coincidence?)

Tuesday, November 01, 2005

the latest tax reform snow job

bush's tax panel submitted its recommendations today. the plan would cut form 1040 to less than half its present length, eliminate the alternative minimum tax, and limit home mortgage interest deductions to a little over $400k.

(if i understood what they were saying, it's also got some trickle-down bs: it would cut the top corporate rate to 30% and shift that part of the tax burden away from big business and onto individuals, which supply-siders think would stimulate investment and thus create jobs. what nonsense! businesses don't invest in capital assets because of tax cuts: they invest in response to demand!)

it's a reform, but it's not fundamental change, and certainly not the kind of change i'd like to see.

one of these days i hope i'll get around to posting my progressive flat tax plan, which would not only radically simplify taxes but exempt approximately 60% of income earners from federal income tax—the bottom 60%, of course!—and automatically balance the budget except if and when congress wanted to use deficit spending to boost the economy.

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