This piece from the Washington Post this morning is discouraging:
[T]he administration plans to push major amendments that would shield interest, dividends and capitals gains from taxation, expand tax breaks for business investment and take other steps intended to simplify the system and encourage economic growth... To pay for them, the administration is considering eliminating the deduction of state and local taxes on federal income tax returns and scrapping the business tax deduction for employer-provided health insurance.
Come on, Mr. President, reform the tax code. Be bold. Do a flat tax, 17%, minimal deductions, with the option to continue paying under the current system if you so desire. Make Steve Forbes Treasury Secretary and install Jack Kemp at Commerce. Create a tax reform commission headed by Dick Armey. Just do it.
Then barnstorm all across the country. Take your team with you and head to Ohio and Florida and Texas. Team up with Arnold in California and Rudy in New York. Pull a Reagan and go over the heads of Congress and take it directly to the people. Tell them you're going to stick it to the special interests and lobbyists in Washington. Just do it. Just do it.
Friday, November 19, 2004
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