Bush Calls for Streamlining Tax Code

[Khephra]

Bush Calls for Streamlining Tax Code




By JENNIFER LOVEN
Associated Press Writer

January 7, 2005, 12:25 PM EST

WASHINGTON -- President Bush on Friday called streamlining and reforming the U.S. tax code an "essential task for our country," but offered few hints of how he intends to get it done.

Treasury Secretary John Snow said "everything's on the table," including possibly the popular home mortgage and charitable deductions and a former senator leading a tax-reform panel for Bush said that a national sales tax or flat tax also could be in the cards.

"I am firm in my desire to get something done," Bush said at the end of a White House meeting with former Sens. Connie Mack, R-Fla., and John Breaux, D-La., the leaders of a nine-member panel the president appointed Friday to recommend reforms to the tax code.

"A simple code will make it easier on the taxpayers," Bush said. "But it's an important task in order to make sure the economic growth we are seeing in the United States continues forward. ... It seems like to me the tax code today discourages economic vitality and growth when you spend billions of hours filling out the forms."

http://www.newsday.com/news/politics/wire/sns-ap-bush-taxes,0,1263945.story?coll=sns-ap-politics-headlines


See, I wasn't making it up. He did say "billions of hours".

[MercutioATC]

1. Re: "Billions of hours".

I believe he was speaking of the man-hours spent each year nationwide.

[Khephra]

10. Even so, I don't think that's possible

There's almost 300 million people in the USA.

Take away the unemployed.

Take away those who aren't making enough to warrent a tax return.

Take away children.

Not even close by estimation standards.

Sorry to nitpick, but everything he says is a talking point that's meant to have an effect on the public. Even when it's totally absurd there's people who will repeat it as if it's Biblical law...and they'll use his "figures" to push for tax chages.

[MercutioATC]

12. By my count, that's about 480,769 accountants working full-time.

That number doesn't seem too unreasonable to me.

[Virginian]

2. That might put some people in India out of work.

There are accounting firms that offshore tax returns. Isn't Bush afraid this might harm the Indian economy?

[Botany]

3. Bush Tax Code

Tax on money earned by working yes
Tax on money earned from capital no

The middle and poor people pay for everything. The rich don't.
It is simple.

[kysrsoze]

33. As twisted and unfair as that sounds, I'm sure he'll do it if he can

Why make the rich who can't possibly have enough money to bathe in and burn in the fireplace pay taxes, when 99% of the country is there to pay the tab for our wars and oil-related pork?

I'm sure this is part of the plan to bankrupt the government so it can no longer pay for frivolous expenses like social security, welfare, education, medical care, etc.

Why have deductions for mortgage interest and charities? Again, fuck the middle class and the poor at the same time. Kill the mortgage deductions and there will no longer be an incentive to own real estate unless you're disgustingly wealthy and can buy it in bulk with cash. This will signal the end of our economy because the housing and consumer goods markets will dry up.

[Vincardog]

4. aWoL will not be happy until all TAX is paid by working people

and there is NO tax on wealth at all. Great if you have money lousy if you work for a living. But I guess if God loved me as much as She loves W I would have been born rich too. Do you think the silver spoon in his mouth hurts when he sticks his head up his A$$?

[ohtransplant]

5. Simplify = even lower taxes on the top 1%

1)We all know the tax code needs simplification.

2)We all know real simplification is politically unpopular with the big money special interests.

3)We all know * won't forget his contributors in this effort.

4)We all know this effort won't have much to do with simplification.

[progressivejazz]

6. It's pretty simple, really.

Just take away the loopholes big businesses have bought themselves over the last 25 years or so.

But he's really not interested in streamlining the code is he? He's interested in further screwing the middle class and rewarding himself and his buddies.

[Warpy]

7. Yeah, Reagan said his new tax scheme would allow us to send

our tax returns in on a postcard. Remember that one? The tax bill he ended up signing pushed the burden more heavily onto working people while giving big political contributors, corporate and private, all sorts of sweetheart deductions, something that has grown each and every year until we have the Byzantine monstrosity of the US tax code we enjoy today. The rich, of course, got a huge tax cut on top of their new deductions.

What this cretin needs to do is eliminate sweetheart deductions and reinstitute a progressive tax to make this country solvent once again.

What he will do is end the home mortgage deduction, lower rates on the rich, add more sweetheart deductions for selected rich men and corporations, and send the housing market into a depression while socking it to the working people of this country.

Just wait and see.

[ohtransplant]

8. Do you remember what Ronny named it?

The Tax Simplification Act of 1986

And the beat goes on.

[Mist]

9. A national sales tax seems kinda dumb

The retail sector would suffer terribly.

[Warpy]

14. It would be regressive, no matter which way it went

Exempting food, primary residence, basic clothing, and medical care would be an attempt to make it more progressive, but would likely send the tax rate well over 20%. I think new cars would sit on lots until they became puddles of rust. Forget about electronics, yard care gear, restaurant meals, vacations, or anything else. This country would pretty much grind to a halt.

Of course, Bush would love it. The one thing he would exempt from sales tax would be the purchase of stocks or bonds.

[meti57b]

16. It would be a tax on "services", too... probably there would even be tax

on medical services. Considering how expensive that is, there would then be a %30 tax on it or something like that.

[Tweed]

17. Sales tax would hit the poorest the hardest

Just another way to make America harder on the poorest.

[skysurfer]

11. So

He wants to get rid of deductions for home mortgages? Does he realize how many people he will be screwing over?

This is the kind of thing that the Democratic Party should be jumping all over. They should be issuing press releases and taking out newspaper ads warning the public that the Republicans are trying to take away their tax deductions.

[MsUSA]

13. You mean the democratic party that didn't stand up to be counted

when it really mattered? That democratic party??? Yeah right. Nope, the middle class will get screwed on this too. Oh right, silly me what middle class. Sorry, just feeling terribly depressed today. It's like they're hitting us from all sides, overtime, gone, SS, gone, clean air & water, gone deductions gone. When will it end. :-(

[skysurfer]

15. Don't apologize

I'm depressed too and bitter. All the things you mentioned would be perfect subject matter for the Dems to use in an ad campaign. A lot of people might have voted for the Pretender, but there are many more who didn't, especially those eligible voters who didn't vote at all. The Dems need to reach out to those people. Let them know that the Repubs are trying to destroy their way of life. It should be a two-pronged attack: let the people know what the Repubs are up to, then offer alternate solutions. That coupled with voting reform is the only way we can get back the House and Senate in 06.

[Amigust]

18. Everytime they touch it they make it more complicated.

I guess that benefits H&R Block.

[hopein08]

19. In other words...

It will seem streamlined to us, but just like Little Red Riding Hood, we'll all be getting duped and eaten alive by the hidden complications.

[gardenista]

20. kick for Khephra

[gardenista]

21. .

[miss_kitty]

22. kick for Khephra

[FreeStateDemocrat]

23. NYT: Bush Names 2 Ex-Senators To Consider Tax Changes

By EDMUND L. ANDREWS
Published: January 9, 2005

WASHINGTON, Jan. 7 - President Bush on Friday named two well-known former senators to head a bipartisan advisory panel on taxes, and gave the group six months to come up with recommendations on how to make the income tax simpler, fairer and more conducive to growth.
The panel's chairman will be Connie Mack III, a former Republican senator from Florida, and its vice chairman will be John B. Breaux, the former Democratic senator from Louisiana who decided not to run for re-election last year.
(SNIP)
In addition to Mr. Mack and Mr. Breaux, the panel's members will be Bill Frenzel, a retired Republican congressman from Minnesota and a political centrist; Elizabeth Garrett, a law professor at the University of Southern California who was a tax counsel to David L. Boren, the former Democratic senator from Oklahoma; Timothy Muris, former chairman of the Federal Trade Commission under Mr. Bush; Edward P. Lazear, a professor of labor economics at Stanford University; James M. Poterba, a professor of tax economics at the Massachusetts Institute of Technology; Charles O. Rossotti, a former commissioner of the Internal Revenue Service; and Liz Ann Sonders, chief investment strategist at Charles Schwab.

http://www.nytimes.com/

How should the predisposition of this panel be viewed?

[Rhiannon12866]

24. Welcome to DU, FreeStateDemocrat!

And thank you for kicking Khephra's post!:-)

[Danmel]

28. Breaux is a Democrat?

Having him makes it bi partisan? Why not Zell Miller?

[sonias]

29. Breaux can't wait to start cashing in

He's despicable, Bi-partisan my ass. Mack and Breaux both are single minded about maximizing their personal bottom lines. You think Armstrong Williams was an ass for taking WH money to shill for the WH as a supposed independent commentator. Don't be too surprised when we find out the Breaux is setting himself up for his lobbying contracts. We already know that's where this is headed. The companies that Breaux will lobby for I'm sure have his ear about tax breaks.

Sonia

[genieroze]

30. You got to wonder why they are former Senators. n/t

[mutius]

25. Bush is an ass.

[Rhiannon12866]

35. Duh. LOL!

Welcome to DU, mutius! Glad to have such a discerning observer among us!:hi:

Kick for Khephra!:kick:

[Misunderestimator]

26. kick

[Rainscents]

27. You know what piss me off the most...

These republicans always says... Dems are the one who raise the tax, Dem's are the one who wants the big governments. These people had been feed to their brains full of SHIT by right wing nuts and they believe everything these asshole feed to them and this piss me off! However, they like most of liberal law that was put in place by... LIBERALS!!! Public school, clean air, protecting our planet, Safe laws for workers, taking care of poor and old people, preserving the civil liberty and democracy!

[DownNotOut]

31. Might be the best thing since

freedom fries..... I fucking hate it regardless because its a '* Tax Plan'. The focker is a shiester and anyone that follows alon with his 'plans' are suckers.


DownNotOut

[Scout]

32. kick

[truthisfreedom]

34. he's right, this needs to be done, but i don't trust his administration to

do it.