Thank GOD: "Bush expected to delay major tax overhaul" (MSNBC)

[Bush_Eats_Beef]

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.

[htuttle]

1. Good

His plan to take away the business deduction for contributions to employee health insurance is going to FUCK my business, bad!

[papau]

5. but it just means the screwing of Soc Security will PR number one

"to same the future economy"

Does anyone believe that the media will include in their reprints of the Rove handouts the fact that the economic analysis that says this helps more than it hurts is a speculation as to the help while a fact as to the hurt?

Indeed will there be in the media same article comments about how the Bush Soc Security PR is in fact one big lie to cover cuts in Social Security beyond what is needed for 2043 - if any are really needed since the projection of a problem in 2043 depends on a very low GDP growth assumption of 1.6% - and if anything closer to our historical average of 2.5 to 3.0% is used, the problem goes away?

[displacedtexan]

2. Gay Marriage Amendment is dying, as well.

This SS battle is really heating up.
If we mobilize seniors (get them connected with their reps), maybe we can kill this, too.

[madmom]

3. The chimps plan to...

tax my employer health care as income will probably double my already excessive tax burden

[papau]

4. 90% OF RICH INCOME IS INVESTMENT INCOME - Bush will cut tax again on

investment income.

And to be against cuts in the taxation of investment income will be "class warfare" - as if the rich have not declared tax war on the middle class

and as if Bush is not a class warfare advocate - just that he is on the side of the rich.

[kentuck]

6. He wants to "reform" the tax code just like Reagan did when...

he found himself in a hole with such huge deficits, after giving his wealthy friends a humongous tax cut, he raised SS taxes. It was under the guise of saving SS but the revenues were not used to "save" SS, they were used as general revenue. That is Bush's plan. He is in a hole and he needs revenues but he doesn't want to raise "income taxes". What does he do? Raise the SS "taxes" instead, pretending he is "saving" it.