Monday, August 30, 2010

Volcker commission report is released

Tax Notes reports that the Volcker commission report on choices for tax reform has been released. Oddly, no mention of it in the NY Times yet.  Perhaps because it's such deadly dull reading, and there are no bombshells that I discovered.  The material is far too complicated to be incorporated into the upcoming fight over extending, in whole or in part, the Bush tax cuts.

Nothing here as sweeping or inspirational as when Reagan took on the tax code and wrestled it to the ground. Nothing to suggest that the tax code might be enlisted in the fight to resurrect the economy.

Also, the estate tax was not included in the charge, and so there's no mention of transfer tax reform.


JLM said...
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JLM said...

The Times did bury a brief item on the report the other day. What could they write about a report that merely reprised everybody's reform ideas and, apparently, proposed nothing?

Congress can't agree on next year's tax rules. How on earth could you expect them to rescue the economy with genuine tax reform?