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Politics : Formerly About Applied Materials
AMAT 252.25+0.9%Nov 28 9:30 AM EST
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To: daryll40 who wrote (43329)3/8/2001 11:49:54 AM
From: Katherine Derbyshire  Read Replies (2) of 70976
 
OT Taxes

I think the 1986 tax reform bill was carefully designed to be revenue neutral. That's how it passed in the first place. Taking away the preferences and deductions simplified the form, while cutting the tax rate meant that the average tax bill stayed the same.

Now we're undoing both goals, by hiking the tax rate *and* adding back all sorts of tax credits. It looks like neither party is able to resist using the tax code to promote its agenda.

Katherine
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