One less "activity" for Bush, one delayed sodomizing of the middle class.
:toast:
http://www.msnbc.msn.com/id/6760039/Bush expected to delay major tax overhaul
Social Security, budget grab center stage
By Jonathan Weisman and Jeffrey H. Birnbaum
Updated: 1:17 a.m. ET Dec. 28, 2004
Wholesale changes to the tax code that just weeks ago were identified as a Bush administration goal by the end of 2005 are being pushed back for at least another year.
White House economists, Republican tax aides in Congress and outside economic advisers say key White House officials have determined that they have their hands full with Bush's pledge to overhaul Social Security and a budget plan that will demand politically painful cuts to non-defense spending.
The president will soon name a panel to examine tax policy, but he will leave it to the Treasury Department to monitor the panel's work. It is widely expected that Treasury Secretary John W. Snow will ultimately recommend incremental changes to the tax code, not replacing it with a new system, such as a single flat income-tax rate or a national sales tax, according to these sources.
"The likelihood of a really dramatic change is fairly low," said Kevin A. Hassett, director of economic policy studies at the American Enterprise Institute.