Bush Reform Call Seen Part of Consumption Tax Move

[Rose Siding]

WASHINGTON (Reuters) - President Bush's call for a simpler tax code could mark the next step in a gradual move toward a system that places more of a tax burden on consumption and less on savings, analysts say, a direction critics think would put a bigger burden on working Americans.
.............
Bush has consistently sought to reduce the tax burden on capital, winning cuts in levies on investment gains and dividends and pushing for tax-free savings accounts, in addition to reducing marginal income-tax rates.

"You could characterize many of the steps that have been taken as moving us toward a progressive consumption tax," a tax on money spent rather then earned, said budget expert Rudolph Penner of the Urban Institute. "In other words, basically easing the burden on capital."

"I think they're rapidly reaching the end of where they can go in their current incremental approach," he added.

Pamela Olson, a former Treasury Department official who had examined reform options for the Bush administration, agreed the president would look favorably on changes to spur savings, but said he was unlikely to fully scrap the current code.

http://www.reuters.com/newsArticle.jhtml?type=politicsNews&storyID=6267216&src=rss/ElectionCoverage§ion=news

[w4rma]

1. Bush. Building a permanent American aristocracy and monarchy.

I guess, being such good buddies with them, he likes how the Saudis are running their country.

[asjr]

2. If people have to pay a VAT on top of state and local taxes there

will have to be a lot of soup kitchens. Our state taxes groceries.

[asjr]

4. Another thought--will any of the VAT go to paying social security?

[Parche]

3. tax

Something that would only help corporations
while us and the middle class suffer

[alfredo]

8. You know that luxury items will be exempt.

You know they will be.

[takumi]

5. Just Another Diversion

Reuters continues to shill for aWol!

[David__77]

6. Sales taxation is reactionary.

I oppose all sales taxes on basic consumer goods. They are an attack against working people.

[Just Me]

7. The "W"ar President declaring "W"ar on fair taxation!!! n/t

[On the Road]

9. Oh, THAT'LL Stimulate the Economy

Dipshits.

[CBHagman]

10. Bend over for the mass violation, middle and working class folks.

Anything that will screw the average worker and cushion trust fund baby's millions is A-okay with Bush & Co., God rot their filthy corpses.

[struggle4progress]

11. kick for class warfare

:kick: