A Clash of Goals in Bush's Efforts on the Income Tax(Rich get tax free Inv

[papau]

Rich get 90% of their income tax free by not taxing investments - intersest, dividends, capital gains - is restated in our not owned by the RW GOP media as "Bush wants consumption tax to replace FIT". Semms all thos tax incentives for whatever that the Bush is announcing so as to get 04 votes would die if we went to a consumption tax! LOL :-)

http://www.nytimes.com/2004/10/06/business/06income.html?oref=login

A Clash of Goals in Bush's Efforts on the Income Tax
By EDMUND L. ANDREWS

ASHINGTON, Oct. 5 - As he campaigns for re-election, President Bush is vowing to lead a bipartisan effort to overhaul the personal income tax and make it "simpler, fairer and progrowth."

Almost all experts agree that the current tax code is hideously complicated and often unfair. But they also say that accomplishing any fundamental change will be hideously difficult, in part because Mr. Bush's goals clash with one another and with some of his own initiatives.

Republican and Democratic tax experts caution that making the tax code simpler would almost certainly set off a fierce political battle over the issue of fairness, because most options under discussion would shift a substantial share of the tax burden from high-income families to middle-income earners.

Making the tax code simpler also clashes with other agendas. Even as he denounced the "special interest loopholes" last month at the Republican National Convention, for example, Mr. Bush suggested potentially popular new tax breaks for home builders and businesses that invest in poor communities.<snip>