Reply #9: Why not? They can trash the Constitution while no one's looking [View All]

[Art_from_Ark]

and no one seems to mind. They can eliminate or greatly reduce programs for the needy, the day after they put their arms around them for a photo-op. In fact, they can, and have, gotten away with just about any piece of hare-brained legislation they've wanted.

As for making a specific proposal, we are arguing semantics here. With the exception of Social Security "reform", once they make a "proposal", it's already a done deal-- their lackeys in the Senate and House will just rubber stamp it, with token opposition.

And if you don't think they're even considering it, read this:

"Bush set up the President's Advisory Panel on Tax Reform in January to recommend changes in the tax code. The panel, led by former Sens. Connie Mack (R-Fla.) and John B. Breaux (D-La.), will submit suggestions to Treasury Secretary John W. Snow this fall. Bush will choose among the recommendations to propose to Congress.

Bush specifically charged the panel to take account of "the importance of homeownership and charity in American society."

That led many to conclude that the homeowner deductions were safe.

"The mother of all tax subsidies �c shall remain untouched," wrote economist and tax expert Martin A. Sullivan in Tax Notes.

This was good news for real estate agents, developers, home builders, contractors, home-improvement stores and speculators �\ groups that heavily support the status quo. But unfortunately for them, the mood changed over the summer.



"There has been a growing expectation that the framework for taxing housing could be revised," said National Assn. of Realtors tax counsel Linda Goold.

One reason for the shift: the expected demise of the alternative minimum tax. Originally designed to make sure those with high incomes didn't deduct their tax liabilities away, the alternative minimum tax is not indexed for inflation.

http://www.latimes.com/news/printedition/front/la-fi-taxbreak8oct08,1,1189219.story?coll=la-headlines-frontpage&ctrack=1&cset=true