Bush's Tax Commission Rejects Overhaul

[NVMojo]

WASHINGTON (AP) - President Bush's tax commission has rejected the idea of a national sales tax and has voiced strong misgivings over European-style consumption taxes, drawing complaints of timidity from critics who wanted the panel to scrap the income tax.

"Apparently they have dismissed out of hand the prospect of fundamental reform," said Leo Linbeck, chairman and chief executive officer of Americans for Fair Taxation, a group advocating a federal retail sales tax. "That's disappointing to me, as you might expect."

The President's Advisory Panel on Federal Tax Reform meets Tuesday to start wrapping up its work on recommendations for making the federal tax system fairer, simpler and better for economic growth. It's final report is due Nov. 1.

more...

http://www.lasvegassun.com/sunbin/stories/bw-wh/2005/oct/17/101709190.html

[endarkenment]

1. Oh golly gee am I shocked and disappointed.

I was so hoping that my mortgage interest credit was going to get abolished and that the health insurance subsidy was going away. Geeze, what will I do?

How will we pay for those tax cuts for billionaires now? How will we continue to pillage what's left of the SS trust fund?

I really wanted some more savaging of working families to subidize the rich and powerful. After all I'm just certain that I'm going to buy that winning powerball ticket and then I'll be rich and powerful too, and a celebrity!

[olddad56]

2. This isn't so bad....

I'm surprised they didn't adopt a plan for a national tax on essentials and no tax luxuries.

[bemildred]

3. Getting ready for the bait-n-switch. nt