THE U.S. TAX CODEIS HIDEOUSLY and needlessly complex. People say they want something simpler. Now two Republican presidential candidates are probably committing political suicide by offering people what they say they want.
The central gimmick of Fred Thompson's recently announced tax plan is to offer people a choice. They can pay taxes under the current rules -- with some juicy new breaks added from the big- and small-businesses wish lists -- or they can pay a so-called flat tax, with lower rates and fewer deductions. So anyone who wants a simpler tax code could have one. But for people who get a lot of deductions now, the simpler tax would be a higher tax. How many people, do you suppose, would choose simplicity over complexity, even if simplicity would cost them more? My bet: approximately zero.
Like most flat-tax advocates over the years, Thompson puts a thumb on the scale by combining flatness with a large tax cut. The Congressional Joint Committee on Taxation figures that Thompson's plan would fall a mere $2.5-trillion short of revenue over the next decade, compared with the current system. If you can borrow $2.5 trillion, it makes it easy to arrange for more people to see their taxes go down than up if they choose the flat-tax alternative.
But this has nothing to do with simplifying the system. If you don't care how much debt you run up, you can give everyone a tax cut without bothering about simplification. You can stop collecting tax at all! That would be nice and simple.
Showing posts with label Fred Thompson. Show all posts
Showing posts with label Fred Thompson. Show all posts
Monday, December 10, 2007
Flat
Michael Kinsley, in the Los Angeles Times:
Labels:
flat tax,
Fred Thompson,
Mike Huckabee
Tuesday, September 11, 2007
Fred Thompson: The Ultimate Insider
So much so, that he knows to try and fool us about it.
Colbert King, of the Washington Post:
Colbert King, of the Washington Post:
Far be it from me to start trouble, but former Tennessee Republican senator Fred Thompson, the presidential candidate who portrays himself as a conservative outsider capable of reforming Washington, is playing down his kinship with this town. Thompson may campaign as a steadfast son of the South, but he is really one of us.
In fact, no other White House hopeful, Republican or Democrat, can come close to matching Thompson's insider credentials. He alone among the contenders has managed to reach the pinnacle of Washington influence: the presidency of the Federal City Council, a powerful, behind-the-scenes group comprising a who's who of this city's top business, professional and civic leaders. The Federal City Council is synonymous with the Washington establishment, and Thompson was its chosen leader from 2003 to 2005.
The list of former council presidents reads like a roster of the city's famous heavy hitters. Thompson succeeded former Senate majority leader Bob Dole. Former House speaker Tom Foley preceded Dole.
Labels:
Fred Thompson
Friday, July 6, 2007
More On Fred
Boston Globe:
The day before Senate Watergate Committee minority counsel Fred Thompson made the inquiry that launched him into the national spotlight -- asking an aide to President Nixon whether there was a White House taping system -- he telephoned Nixon's lawyer.
Thompson tipped off the White House that the committee knew about the taping system and would be making the information public. In his all-but-forgotten Watergate memoir, "At That Point in Time," Thompson said he acted with "no authority" in divulging the committee's knowledge of the tapes, which provided the evidence that led to Nixon's resignation. It was one of many Thompson leaks to the Nixon team, according to a former investigator for Democrats on the committee, Scott Armstrong , who remains upset at Thompson's actions.
"Thompson was a mole for the White House," Armstrong said in an interview. "Fred was working hammer and tong to defeat the investigation of finding out what happened to authorize Watergate and find out what the role of the president was."
Labels:
Fred Thompson,
Watergate
Tuesday, July 3, 2007
Your Law and Order Republicans
Rudy Giuliani
John McCain:
Mitt Romney:
Fred Thompson
As Joshua Marshall points out:
After evaluating the facts, the president came to a reasonable decision and I believe the decision was correct.Tell us, Mr. Former-Federal-Prosecutor, what exactly is reasonable about commuting the sentence of a man convicted of lying to federal investigators about his role in a conspiracy to out the secret identity of an undercover CIA agent?
John McCain:
Election Central just sent an e-mail to John McCain campaign spokesman Danny Diaz, asking if the Senator has any comment on the Libby commutation. His reply: "Nope."Because, God knows, leaders know when to lead.
Mitt Romney:
Republican presidential candidate Mitt Romney, who as Massachusetts governor refused to pardon an Iraq war veteran's pellet gun conviction, on Tuesday called U.S. President George W. Bush's commutation of Scooter Libby's prison sentence "reasonable."No crime? You mean other than perjury and obstruction of justice? Very carefully? You mean that, facing actual prison time, Libby might have decided to talk to prosecutors about who else was involved in the criminal conspiracy to out the CIA agent's identity, so Bush very carefully concluded that any minor backlash against the commutation would be better than risking the truth being revealed?
Defending Bush, Romney said at a campaign stop that "the president looked very carefully at the setting" before deciding to commute the 2 1/2-year sentence of Libby, the former chief of staff to Vice President Dick Cheney, who was convicted in the CIA leak case.
The prosecutor in the case "went after somebody even when he knew no crime had been committed," Romney said. "Given that fact, isn't it reasonable for a commutation of a portion of the sentence to be made?"
Fred Thompson
I am very happy for Scooter Libby. I know that this is a great relief to him, his wife and children. While for a long time I have urged a pardon for Scooter, I respect the President's decision. This will allow a good American, who has done a lot for his country, to resume his life.Thanks for your concern for the treasonous felon. Any concern for the former CIA agent, whose career was destroyed? Any concern for the lives of the network of undercover agents she managed? Any concern for our nation, which lost a critically important national security team that was specifically focused on stopping the proliferation of weapons of mass destruction?
As Joshua Marshall points out:
Paris Hilton did more time than Scooter Libby.
Monday, June 25, 2007
Fred Thompson Could Be A Trailblazer
Huffington Post:
f Fred Thompson is elected president, he will be the first federally registered lobbyist to become Commander in Chief. Since his days as top minority counsel to the Senate Watergate Committee, Thompson has collected over $1 million in lobbying fees. In return, he has provided exceptional access to those in power.Because we need a President who isn't beholden to lobbyists, we should elect one who actually is a lobbyist! Particularly one who surrounds himself with tobacco industry hacks. Just guessing you haven't seen anything about this in the fawning corporate media puff pieces on Thompson.
Thompson's prospective presidential bid stands out in another respect: No campaign has been so dominated by staffers and advisers who have worked on behalf of Philip Morris, one of the world's leading tobacco conglomerates and a leading force in promoting cigarette smoking.
Thompson's lobbying career demonstrates his striking skill in capitalizing on his own government service and on the success of his friends in public office.
Labels:
Fred Thompson,
tobacco
Sunday, May 6, 2007
Fred Thompson
I'm just going to deposit this Washington Post link, for future reference. The title of the article?
Thompson's Politics Much Like McCain'sHe'll be the media's darling, too. No illusions!
But Unlike the Senator, Actor Is GOP's Darling
Labels:
Fred Thompson
Thursday, April 19, 2007
Fred Thompson Warning
Bloomberg:
Former U.S. Senator Fred Thompson, moving closer to a White House run, is getting support from his party's social conservatives even though he wasn't previously a standard-bearer for their agenda.The article discusses Thompson's "Evolving View" on various issues, which will be important to watch. The media will be sycophantically slavering all over Thompson, who has undeniable charm and presence; but he's a Republican's Republican, and he supports the war. It will be important to undercut him, early and often.
The actor and former Tennessee lawmaker met with House Republicans in Washington yesterday to discuss a possible candidacy. The 53 lawmakers gave him a standing ovation and Thompson later said: ``We had a good talk. I enjoyed it and we'll be seeing more of each other, I'm sure.'' The discussion covered abortion, immigration, his first marriage and the war in Iraq.
Labels:
Fred Thompson
Subscribe to:
Posts (Atom)