Thursday, July 16, 2009
Honesty, Transparency and Taxes
Absolutely, our legislators are cowards when it comes to taxes. I would like to see a lot of rethinking, simplification, and transparency in our byzantine tangle of tax laws. But that would require more courage than most politicians seem to have, not only in explaining what should be obvious - that modifications of tax rates, with elimination of some taxes and increases or decreases of others should be viewed in the aggregate, rather than with the howl that anything other than a cut (unless it's a tax increase on the middle class) will destroy the economy and possibly the world - but also in tackling wealthy, powerful and politically well-connected special interests that benefit from loopholes, shelters, and other devices that, whether by accident or design, are built into the current system.