Tax Reform Time

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Dan Shaviro, a tax law professor at NYU, has a useful analysis of the new tax reform proposals coming out of Bush’s Tax Reform Commission. (See Kevin Drum for another summary.) I figured originally it was enough just to sneer at the proposal on account of it: a) being revenue-neutral, thus locking in the present budget deficits, and b) shifting the tax burden from wealth to work. Shaviro suggests it’s not quite as bad as all that, and there are some decent ideas in there, but that these reforms are extremely unlikely to happen—especially the caps on deductions for employer-backed health insurance and interest on mortgages—and the Bush administration will probably just “bury this plan under the heaviest rock they can find.” Fair enough.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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