Bush "pushing to overhaul the nation's tax code," "Economy is STRONG!"

[Bush_Eats_Beef]

"U.S. President George W. Bush speaks to the press after meeting with his administration's economic team at his Central Texas ranch in Crawford to map out a Fall agenda that includes reviving the debate over Social Security and pushing to overhaul the nation's tax code, August 9, 2005. Included in the meeting are from L-R: U.S. Trade Representative Robert Portman, U.S. Labor Secretary Elaine Chao, U.S. Agriculture Secretary Mike Johanns, President Bush, U.S. Treasury Secretary John Snow, U.S. Commerce Secretary Carlos Gutierrez. REUTERS/Larry Downing"



"President Bush embraced recent positive economic reports to promote his domestic agenda after meeting with his economic team at his Crawford, Texas, ranch, Tuesday, Aug. 9, 2005. 'The economy of the United States is strong and the foundation for sustained growth is in place,' Bush declared, flanked by members of his domestic policy team following a strategy session. (AP Photo/J. Scott Applewhite)"

MORE on Bush's desire to "to overhaul the nation's tax code," also known as The National Sales Tax:

A National Sales Tax No Vote
The rates would be vastly higher than what you might suspect.

http://www.nationalreview.com/nrof_bartlett/bartlett200408090847.asp

The Linder bill (H.R. 25) is also deceptive in its basic assumption that all consumption of goods and services in the U.S. would be taxed. Implicitly, Americans would be taxed on, among other things, all medical care, purchases of new homes, and services provided by state and local governments if Linder’s bill became law.

This means that if you are sick and have large doctor bills, you are going to pay 30 percent on top to the federal government. (Alternatively, you would pay 30 percent more for health insurance.) If you buy a new house listed for $150,000, your actual purchase price is going to be $195,000, including the sales tax. (Alternatively, there could be a tax on the imputed rent homeowners pay themselves for living in their own homes.) And if your children receive $20,000 worth of education each year from the local public schools, somehow or other you are going to have to pay an additional $6,000 to the federal government.

Of course, it is completely idiotic to think that the American people will ever allow this to happen. The idea of taxing all consumption sounds nice in theory until you realize just how broad the definition of “consumption” would be under Linder’s plan.

Economist Evan Koenig of the Federal Reserve Bank of Dallas makes the point that any new sales tax is going to raise prices by that amount. If the Federal Reserve accommodates it, we are going to have 30 percent inflation the year the tax is introduced. If it is not accommodated, then producer prices are going to have to fall by 30 percent, which will cause a severe recession and greatly reduce the tax yield.

[The_Casual_Observer]

1. They won't stop until the whole place has been reduced to cinders

It's all corporate slash and burn games with those bastards. They fucking couldn't care less about tomorrow, it's all about the next 2 hours.

[tparlin]

2. Economy strong? Then why...

If Bush believes the economy is so strong, then why would there be a need to change the tax code? Woops, looks like there's some mexed missages.

[Poiuyt]

3. The economy is strong if you like working at WalMart

In my part of the country, the high paying jobs are still moving over to China and India

[AzDar]

4. Okay, now I'm convinced. Up until now, I thought that Chimpy was just

incompetent, greedy, and corrupt.
NOW I see that he is really out to destroy our country.
We gotta get this f&*ker IMPEACHED before he finishes us off!!!