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March 03, 2005

If I weren't so frantically busy at the moment, I'd be posting a huge, long rant about this.

Greenspan Urges Tax Code Simplification

WASHINGTON, March 3 - Federal Reserve Chairman Alan Greenspan said today that the tax system should be simplified, perhaps with some kind of consumption tax, to encourage national economic growth and personal savings.

I just can't believe he could say that with a straight face.

Simplification of the system? Yes. It's time and past time.

"Consumption" tax? No way.

P.S. Hello. I'm back. Blogging will be sporadic until such time as I can once again see the top of my desk.

Posted by AnneZook at 04:56 PM


Wow. He really has turned into a Republihack. "Let's cripple the consumer economy and shift the tax burden as far down the economic spectrum as possible" is not the kind of "good advice" that's supposed to come from "the Fed"....

Even the "flat tax" is more viable (and less regressive) than the consumption tax.

Posted by: Jonathan Dresner at March 3, 2005 08:18 PM

Absolutely. A flat tax, if applied with complete equality to everyone (and to all income sources), would bring in the money and provide cost-savings in the administration of it that would result, in the end, in more money for the government.

But let's never forget that "more money for the government" is the last thing the Republicans want...unless they're free to spend it on bullets and bombs.

Posted by: Anne at March 4, 2005 11:31 AM