The Jaker

Mostly rational politics, with occasional rants about how a few crazy Republicans are ruining the country.

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Tuesday, March 15, 2005
Listen to John Podesta
As usual the former Clinton Chief of Staff is doing fine work. His Center for American Progress has a detailed and thorough tax plan, discussed here in John's op/ed in today's Washington Post, that basically solves most of the issues with the current tax code:
  • It taxes all income the same - be it from work or capital income
  • It eliminates the problematic AMT (and the need for it by increasing taxes on investment income)
  • It simplifies the structure to just 3 tax brackets
  • It eliminates the regressive flat tax of 6.2% for social security
  • It improves the long-term solvency of the social security trust fund

The full tax plan can be found here for those interested.

This is a big issue - Bush's tax cuts are expiring soon and a Congressional task force is currently deteremining what to do long-term. Podesta is one of the left's brightest minds, and we should listen to anything and everything he says.

posted by CB @ 5:49 PM  
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