WASHINGTON, Oct. 18 - President Bush's tax advisory commission agreed today to recommend two alternative tax plans, both of which would limit or eliminate almost all tax deductions, including the ones for state and local income and property taxes.
But the plans would amount to the most fundamental changes in the American tax system in 20 years. Some individuals and businesses could owe much more in taxes and some much less.
"We have focused on big picture ideas that would improve the tax system for a large number of Americans," said the panel's chairman, Connie Mack, a former Republican senator from Florida.
"Simplification has driven this," he said. "Also fairness."
http://www.nytimes.com/2005/10/18/politics/18cnd-tax.html?ex=1130299200&en=17871d7f1318f9e1&ei=5043&partner=EXCITE***
Hahahahahahaha!! Simplification and fairness, that's the ticket!
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore