Wednesday, April 08, 2009

A Reminder that Stimulus doesn't have to come from Spending Money

Apparently the Obama Administration is preparing for tax reform - Bruce Bartlett notes why it's important (Forbes):

Two recent announcements from the Obama administration have started the ball rolling on tax reform. This is a long overdue and welcome development. It’s critically important that Congress enact some sort of major tax reform every 10 years or so because the tax code becomes unbelievably cluttered very quickly with special tax provisions. It’s essential to clear away this underbrush from time to time and look at the tax system in its totality. Unfortunately, the last major tax reform effort took place in 1986.
via Glenn Reynolds who also points out: "I’m skeptical that we’ve got anyone in a position of influence in Washington who really wants to produce a less corrupt system." Given the regulation the Administration is about to unleash and the trillions being spent making life more difficult for entrepreneurs - who will be critical to the rebirth of the economy, who wouldn't be skeptical?

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