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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Katherine Derbyshire who wrote (43337)3/8/2001 2:30:33 PM
From: daryll40  Respond to of 70976
 
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

But we're NOT doing the above. We're adding preferences for the lower income taxpayers while the 1986 bill TOOK AWAY preferences for the higher income taxpayers.



To: Katherine Derbyshire who wrote (43337)3/9/2001 5:43:13 PM
From: willcousa  Respond to of 70976
 
OT Taxes Katherine, I agree that the 86 reform was a great model and a lot of people quit playing the tax shelter game as a result. It also helped the economy.


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