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.