by Chris Edwards
read more HERE
President Obama has a new budget and a new Treasury study that promise “tax reform.” He says that he wants to abolish “dozens of tax loopholes,” but he also proposes a boatload of new special-interest tax breaks. The president says that he wants everyone to “play by the same rules.” His tax plan does the opposite.
Serious economists know that tax reform means lower marginal tax rates, simplification and a neutral tax base that doesn’t distort investment. Those were the goals of the bipartisan Tax Reform Act of 1986 and of many reform proposals since. However, that basic understanding of tax reform has eluded the Obama administration.
I would think that our well-educated, highly resourceful politicians could fix the tax code to make it simpler and fairer to the American people.
Oh shucks…nevermind…I’m thinking out loud again.
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With the convenience of 24/7/365 news service on radio, television, smartphones, iPad and what have you, I get sick of hearing the same “news” recycled and rehashed over and over again because they usually make me angry.
News stories on legislating abortion using our tax dollars, gay rights, politicians unable to balance the budget, people offended by religious traditions, celebrity mishaps, rumors of wars, and political stories that try to pit one group of people against another. The list goes on, and on, and on. They’re like soap operas. You can tune in at any time and pick up where you left off.
Remember the little boy and his dad on the Hanes sock commercial when they said, “Sick of it”? Yeah, that’s me, too!! Thankfully, I’m now weaning myself off the television.
This post was inspired by a Plinky prompt, “Are there any news stories you’re sick of hearing about?”