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Dissolve the President's Tax Reform Panel
townhall.com ^ | 10/14/05 | Neal Boortz

Posted on 10/15/2005 12:45:23 AM PDT by beyond the sea

When President Bush formed his President’s Advisory Panel on Federal Tax Reform he charged that panel with developing a tax reform proposal that would achieve three principal objectives:

1. The proposal should simplify the Federal tax code so as to reduce the costs of tax compliance.

2. The proposal should promote home ownership and charitable giving.

3. The proposal should promote economic growth, job creation and encourage individual saving and investment while strengthening the competitiveness of the US in the global economy.

We now have a clear indication of the proposals that will come from the president’s tax reform panel, and it’s fair to say that not one of the above objectives will be realized, much less addressed. The tax reform panel, having failed to follow its mandate, should be dissolved immediately and the panel members sent off to create mischief elsewhere.

(Excerpt) Read more at townhall.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Government; News/Current Events
KEYWORDS: boohoo; boortz; crybabies; drinkthatkoolaid; fair; fairtax; fairtaxisnt; income; koolaiddrinkers; losers; moreboortzbs; onlyflattaxisfairtax; reform; scam; scientology; tax; taxfraud; taxreform; whiners
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This panel is pathetic. More evidence that some things (like corruption) never change.
1 posted on 10/15/2005 12:45:25 AM PDT by beyond the sea
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To: beyond the sea

The panel seems to be moving opposite the way it should: tax simplification.

Flat or fair tax now!


2 posted on 10/15/2005 12:48:37 AM PDT by NapkinUser (Click my screen name for information on my screen name.)
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To: NapkinUser

This panel is an outright abomination.


3 posted on 10/15/2005 12:50:49 AM PDT by beyond the sea (Doctor, my eyes... tell me what is wrong...was I unwise to leave them open for so long)
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To: NapkinUser

Who sits on this "panel" in addtion to Breaux and Connie Mack?

Get pols (even ex-pols) involved and the whole thang gets complicated.


4 posted on 10/15/2005 12:52:05 AM PDT by onyx ((Vicksburg, MS) North is a direction. South is a way of life.)
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To: onyx

Panel Members

Connie Mack III (Chairman) Senior Advisor, King & Spalding LLP, and former U.S. Senator. Senator Mack served as Chairman of the Joint Economic Committee and was a member of the Finance and Banking committees.

John Breaux (Vice-Chairman), former U.S. Senator. Senator Breaux served on the Finance Committee and the sub-committee on Taxation and IRS Oversight.

William Eldridge Frenzel, former Member of the U.S. House of Representatives. Mr. Frenzel served on the Budget Committee and the Ways and Means Committee. Mr. Frenzel is a Guest Scholar at the Brookings Institution.

Elizabeth Garrett, Sydney M. Irmas Professor of Public Interest Law, Legal Ethics and Political Science, University of Southern California. Ms. Garrett served as Legislative Director and Tax and Budget Counsel to former U.S. Senator David L. Boren.

Edward P. Lazear, Senior Fellow, Hoover Institution and Professor of Human Resources, Management and Economics, Stanford University's Graduate School of Business. Mr. Lazear is the founding editor of the Journal of Labor Economics.

Timothy J. Muris, Foundation Professor, George Mason School of Law and Of Counsel, O'Melveny & Myers LLP. Mr. Muris served as Chairman of the Federal Trade Commission from 2001 to 2004.

James Michael Poterba, Department of Economics, Massachusetts Institute of Technology. Mr. Poterba serves as Associate Department Head. He has taught at MIT since 1982.

Charles O. Rossotti, Senior Advisor, The Carlyle Group. Mr. Rossotti served from 1997 to 2002 as Commissioner of Internal Revenue. He formerly served as the President, Chief Executive Officer and Chairman of the Board of American Management Systems.

Liz Ann Sonders, Chief Investment Strategist, Charles Schwab. Ms. Sonders joined U.S. Trust, a division of Charles Schwab, in 1999 as a Managing Director and member of its Investment Policy Committees.


5 posted on 10/15/2005 12:59:41 AM PDT by beyond the sea (Doctor, my eyes... tell me what is wrong...was I unwise to leave them open for so long)
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To: beyond the sea
This panel is pathetic. More evidence that some things (like corruption) never change.

It's not just this panel - it's the whole Big Stupid Government. The damn thing has gone completely off the rails and exists to perpetuate itself and the Republican/'Rat parties.

Just like a cancer.

6 posted on 10/15/2005 1:05:35 AM PDT by Hank Rearden (Never allow anyone who could only get a government job attempt to tell you how to run your life.)
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To: Hank Rearden

What is not mentioned in the article is that the deductibility of home mortgage interest is incorporated into the value of the assets. As such, elimination of the deduction will cause the effected segment of the housing market to collapse. This is essentially what happened in the late 1980's.


7 posted on 10/15/2005 1:14:02 AM PDT by johnny r
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To: beyond the sea; Stellar Dendrite

Panel formed by the President, members nominated by the President, given objectives by the President, yet we're being asked to dismiss the results? Is Boortz just being sexist because Connie Mack co-chairs the panel, or is he a Beltway elitist because of the school John Breaux attended? Isn't the panel made up of "accomplished" people, and aren't we supposed to "trust" them?


8 posted on 10/15/2005 1:54:21 AM PDT by DTogo (I haven't left the GOP, the GOP left me.)
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To: beyond the sea

My understanding of their recommendation was that the deduction was to be reduced from $1 million to a non-arbitrary number based on the value of properties in each area.

While I have misgivings (serious misgivings about their non-arbitrary number) I don't see any problem with the reduction of the maximum deduction that can be made based on the interest on a mortgage.

This means that aside from people in the top economic stratosphere, this won't affect most Americans. What it will probably do is depress the development and sale of ultra expensive vacation homes and large investments in expensive properties by wealthy people looking for an investment that comes with a tax break.

Everyone else with properties whose interest on their mortgages won't exceed the maximum deductible, which is pretty much everyone but the really wealthy few, won't feel a thing.

Of course - a flat tax system with no deductions would be much, much nicer.

I dislike the "fair tax" system for the same reason that I dislike the idea of a calculation for determining a person's maximum deductible on a mortgage. I don't like the idea of combining government and complexity. It always seems to spawn bureaucrats and eventually the invisible corruption we only find out about after millions or billions have been wasted, stolen, or lost. And this doesn't just happen in government.


9 posted on 10/15/2005 2:01:15 AM PDT by coconutt2000 (NO MORE PEACE FOR OIL!!! DOWN WITH TYRANTS, TERRORISTS, AND TIMIDCRATS!!!! (3-T's For World Peace))
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To: DTogo
Is Boortz just being sexist because Connie Mack co-chairs the panel...

Connie Mack is a guy.

10 posted on 10/15/2005 3:37:45 AM PDT by sangoo
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To: beyond the sea

Proves the joke that a camel is a horse designed by gubmit committee.


11 posted on 10/15/2005 3:39:49 AM PDT by Semper Paratus
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To: beyond the sea

Well, there's yer problem right there - not one person on the committee with street smarts. Is it any wonder they can't figure out what's wrong with taxes?


12 posted on 10/15/2005 3:57:39 AM PDT by AmericanChef
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To: beyond the sea

As Boortz pointed out in his radio commentary, not ONE of the members of this tax reform panel is a businessman. The vast majority are university professors...yes, ivory tower denizens of a cocoon provided by someone else's money. What in the world was the President thinking when this goofy bunch was selected? I truly think he has lost it. Every House and Senate member ought to be buried in negative correspondence when the panel's recommendations to raise taxes appears next week, and their report needs to die a swift and sure death.


13 posted on 10/15/2005 3:59:10 AM PDT by kittymyrib
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To: DTogo
Is Boortz just being sexist because Connie Mack co-chairs the panel...

Connie Mack is atually Cornelius Alexander McGillicuddy III.

14 posted on 10/15/2005 4:04:06 AM PDT by Non-Sequitur
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To: johnny r
"What is not mentioned in the article is that the deductibility of home mortgage interest is incorporated into the value of the assets. As such, elimination of the deduction will cause the effected segment of the housing market to collapse. This is essentially what happened in the late 1980's." OH I dunno about that.... Got many friends with a $25K per month mortgage? I've seen some on TV..Arian Huffington comes to mind. Lives in a $7 Million Dollar home but paid less than $150 in Federal Income tax one year.
15 posted on 10/15/2005 4:05:32 AM PDT by Wristpin ( Varitek says to A-Rod: "We don't throw at .260 hitters.....")
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To: kittymyrib
What in the world was the President thinking when this goofy bunch was selected?

Sometimes I think his detractors are right...... he's a fool.

16 posted on 10/15/2005 4:23:45 AM PDT by beyond the sea (Doctor, my eyes... tell me what is wrong...was I unwise to leave them open for so long)
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To: beyond the sea

When the "leak" came out earlier in the week of what the commission was proposing, I was as freaked as anyone.

But the commission has not released anything official yet. They are not even done meeting yet...check the site: http://www.taxreformpanel.gov/

Let's cool it until the report is done. Bortz: go suck an egg until you have something substantive to bitch about.


17 posted on 10/15/2005 5:08:32 AM PDT by PjhCPA (Are we having fun yet???)
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To: ancient_geezer; Taxman; pigdog; Principled; EternalVigilance; PhilWill; kevkrom; n-tres-ted; ...

Ping!


18 posted on 10/15/2005 5:11:19 AM PDT by Man50D
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To: johnny r
As such, elimination of the deduction will cause the effected segment of the housing market to collapse.

As it was with the so-called "Luxury Tax" a few years back. This "tax on the rich" nearly collapsed the pleasure boat industry, among others.....

19 posted on 10/15/2005 5:17:59 AM PDT by Thermalseeker (-)
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To: Hank Rearden
re: whole Big Stupid Government

Never were truer words spoken! About 30 years ago, mid-70's, I would watch a newscast or read the paper and make the statement "government is out of control." This happened so often that my family just tuned me out, or would mouth the words as I said them. Well, guess who gets the last laugh? I take great delight in reminding them that not everyone fell for the idea that increased government involvement and control of our daily lives would be beneficial.

Truth be known though, the delight I get from rubbing there noses in it is very shallow and really bittersweet. I wish I had been wrong.
20 posted on 10/15/2005 5:21:14 AM PDT by jwpjr
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To: coconutt2000
This means that aside from people in the top economic stratosphere, this won't affect most Americans.

Really? When was the last time you received a paycheck from a poor man?

21 posted on 10/15/2005 5:21:29 AM PDT by Thermalseeker (-)
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To: beyond the sea

re: he's a fool.

All of us are, in one way or another. Those who are successful have avoid making important decisions in the areas where they are fools.

For my money his strong points more than make up for his weak points! But this Tax Reform Panel thing is the pits!


22 posted on 10/15/2005 5:27:23 AM PDT by jwpjr
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To: beyond the sea
Ain't it just amazin? Every damn one of the members of the panel are members of the Ruling Class.
The very ones that benefit from a convoluted tax system. "Retired" politicians should be banned from any contact with the government. A Pox on all of them.
23 posted on 10/15/2005 6:25:54 AM PDT by Bar-Face (The Embassy helicopter is warming up.)
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To: Bar-Face
"Retired" politicians should be banned from any contact with the government. A Pox on all of them.

I hear you!

24 posted on 10/15/2005 6:55:34 AM PDT by beyond the sea (Doctor, my eyes... tell me what is wrong...was I unwise to leave them open for so long)
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To: beyond the sea

ALL DIRECT suckers at the public teat or INDIRECT suckers via the income tax system they seek to preserve. If these clowns wish to "preserve" the income tax, might I suggest it be profused with formaldahyde so future generations can come look at it in some museum as an example of what NEVER TO ALLOW BE BORN AGAIN!

I recently sent these MORONS the following comment at their website (which, due to the influx of insulting and critical messages coming in from us proles out here in fly-over country, will probably be soon shut down):



After spending several millions in taxpayer funds for useless travel on airfares and expensive lunches in the best restaurants as befits persons of your vaunted status, the final score is in:

Taxpayers and their grandchildren: 0
K Street and the political elite: 666

Many of us knew this was a rigged deck going in but your rejection of the ONLY tax plan making any sense to millions of Americans, The Fair Tax, puts your "decision" right up there with the Captain Smith's decision to increase the speed of the Titanic through a known iceberg field. And the results will be the same.

The "message" of your "decision" seems to be "We upped OUR wealth, up yours!"

Must go now and ready the lifeboat.


25 posted on 10/15/2005 7:13:19 AM PDT by Dick Bachert
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To: sangoo

Togo is clearly one of our better informed citizens...


26 posted on 10/15/2005 7:14:56 AM PDT by Dick Bachert
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To: Non-Sequitur

I believe Mack's father was the renouned baseball player or years past.

Reminds me of an adage MY father frequently offered: All you can expect from trying to play ball with some folks is to wind up with about a quarter inch of bat sticking outta your a**.


27 posted on 10/15/2005 7:19:22 AM PDT by Dick Bachert
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To: coconutt2000
I take it you haven't tried to buy a house in the $ilicon Valley?
28 posted on 10/15/2005 7:20:52 AM PDT by Yossarian (Remember: NOT ALL HEART ATTACKS HAVE TRADITIONAL SYMPTOMS)
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To: Dick Bachert

Spot on.


29 posted on 10/15/2005 7:22:01 AM PDT by EternalVigilance (Put Principle Before Party. Support Minuteman Jim Gilchrist. www.JimGilchrist.com)
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To: Dick Bachert

Dick,

My rant follows:

What else would we expect FRom a bunch of ITEB(Inside The Evil Beltway) Poobahs except "same ol' same ol'" status quo?

The American people deserve better, and I guess we'll have to force a solution, much like the Founding Fathers did!

In the meantime, a pox on their houses! Tar and feathers on their bodies! Rain on their parade! Mold on their bread! May the Bluebird of Happiness crap on their birthday cake! A hex on their investments!

Surely every form of personal and professional misery will torment each of them the rest of their lives!

BAH!

FReegards, FRank


30 posted on 10/15/2005 7:30:25 AM PDT by Taxman (So that the beautiful pressure does not diminish!)
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To: Thermalseeker
Really? When was the last time you received a paycheck from a poor man?
As if everyone who hires someone is rich. Many small business owners earn less than their employee's.
31 posted on 10/15/2005 7:32:09 AM PDT by lewislynn (Status quo today is the result of eliminating the previous status quo. Be careful what you wish for)
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To: EternalVigilance; Bigun; ancient_geezer; pigdog

Y'all need to read my rant too!

And Ping anybody else you think would enjoy!


32 posted on 10/15/2005 7:32:14 AM PDT by Taxman (So that the beautiful pressure does not diminish!)
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To: beyond the sea; Taxman; pigdog; Principled; EternalVigilance; rwrcpa1; phil_will1; kevkrom; ...
A Taxreform bump for you all.

If anyone would like to be added to this ping list let me know.

Don't like the lack of action on the part of this so called tax "reform" panel?

Get on the horn with that Congress Critter and let them know how you stand in no uncertain terms.

Bottomline, change is only going to come about if we fight for it and no other reason.

John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.

H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.

Refer for additional information:


33 posted on 10/15/2005 9:02:19 AM PDT by ancient_geezer (Don't reform it, Replace it!!)
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To: Taxman

No one rants better than you do, my friend! ;-)


34 posted on 10/15/2005 9:15:49 AM PDT by EternalVigilance (Put Principle Before Party. Support Minuteman Jim Gilchrist. www.JimGilchrist.com)
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To: ancient_geezer
Bottomline, change is only going to come about if we fight for it and no other reason.

No doubt about it.

35 posted on 10/15/2005 9:16:51 AM PDT by EternalVigilance (Put Principle Before Party. Support Minuteman Jim Gilchrist. www.JimGilchrist.com)
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To: beyond the sea


Thank you.


36 posted on 10/15/2005 9:17:45 AM PDT by onyx ((Vicksburg, MS) North is a direction. South is a way of life.)
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To: beyond the sea
"the President's Tax Reform Panel"

might have had good intentions like every similar panel tell they get the wake up call from the fed....."all your freedom and prosperity berong to us since 1910 and don't forget it".....click

37 posted on 10/15/2005 9:23:11 AM PDT by patriot_wes (papal infallibility - a proud tradition since 1869)
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To: beyond the sea

Thank God a voice of sanity out there... I think the panel has obviously ignored or are incapable of understanding their mission.... which they have failed miserably with their suggestions.


38 posted on 10/15/2005 9:39:16 AM PDT by Arizona Carolyn
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To: beyond the sea; All
Dissolve the President's Tax Reform Panel
townhall.com
^ | 10/14/05 | Neal Boortz

<<<<<<<<<<<>>>>>>>>>>>

Find all 35 ways to listen to BOORtz over the web --
including evenings and weekends -- HERE:
http://FreedomKeys.com/boortzcast.htm

<<<<<<<<<<<>>>>>>>>>>>


39 posted on 10/15/2005 9:46:00 AM PDT by FreeKeys ("The hardest thing in the world to understand is the income tax." -- Albert Einstein)
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To: Hank Rearden
Hank, you are so right. I think the mess with FEMA should be a warning to all who thinks making big government bigger and piling another agency on top of already ineffective agencies is a disaster waiting to happen.

I have supported our President from the beginning, but I'm looking at all the things dems have pushed that he's caved on and then had them come back to bite him in the end.. like homeland security and, I'm afraid, this new added layer over FBI, CIA, NSA, etc... and looking at the cost of the IRS -- enough to rebuild the whole gulf coast... you would think he would know by now that commissions only make matters worse .. BTW. what the "H" is congress doing now days? Seems to me all hearings and decisions are being pushed into special commissions... if that is the route we're taking then what are we paying all these representatives for??????

I'm disgusted with the whole bunch right now.

40 posted on 10/15/2005 9:54:31 AM PDT by Arizona Carolyn
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To: DTogo

Didn't the president nominate the members of the 9/11 commission, too???? We all have to start using our brains and not blindly following either party.... of which both appear to be puppets of special interest groups made worse by McCain-Feingold.


41 posted on 10/15/2005 9:57:04 AM PDT by Arizona Carolyn
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To: Thermalseeker
Thank you! One area I support the administration on is lowering taxes on everyone and businesses.. lower taxes on business mean more hiring onshore instead of China and more hiring onshore brings more money into treasury and it's a win-win for all... because it also lowers the cost of goods made domestically when taxes are lowered without reducing salaries...

I think they really should have put business people instead of professors on this panel... they just do not live in a real world... something we all knew in school, learn theory and then go out and learn reality.

42 posted on 10/15/2005 10:03:05 AM PDT by Arizona Carolyn
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To: Arizona Carolyn; sangoo; Non-Sequitur
We all have to start using our brains and not blindly following either party.... of which both appear to be puppets of special interest groups made worse by McCain-Feingold.

I agree.

My bad for not knowing who "Connie" Mack is.

43 posted on 10/15/2005 10:07:21 AM PDT by DTogo (I haven't left the GOP, the GOP left me.)
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To: DTogo

I'm sure it was an honest mistake ~LOL~


44 posted on 10/15/2005 10:34:06 AM PDT by Arizona Carolyn
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To: PjhCPA
True and yet....why are things leaked? what is the purpose of a leak?
often politicians leak information so that the populace will be calmed down enough when the true info. comes out
the general mass of sheople will end up saying "see it isn't as bad as we thought"


happens all the time--they leak a tax increase of 40% and then when the real figure is 25% no one is mad..clever this political machine of ours
45 posted on 10/15/2005 10:38:34 AM PDT by socialismisinsidious (Liberals are all about choice UNTIL you choose differently than them.)
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To: DTogo
I haven't left the GOP, the GOP left me.

And I can see why. Hopefully, FR will leave you, too.

46 posted on 10/15/2005 10:40:53 AM PDT by Mind-numbed Robot (Not all that needs to be done needs to be done by the government.)
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To: beyond the sea

"The tax reform panel, having failed to follow its mandate, should be dissolved immediately"

===

I second the motion.

Not only they failed to follow their mandate, but by proposing a cap on mortgage deduction they are actually working to complicate the tax code, RAISE TAXES, DISCOURAGE home ownership, hurt the economy -- in other words they are doing the opposite of their mandate. They should all be fired immediately.


47 posted on 10/15/2005 10:44:14 AM PDT by FairOpinion
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To: Dick Bachert
I believe Mack's father was the renouned baseball player or years past.

His grandfather, actually. The first Connie Mack was owner/manager of the Philadelphia Athletics from 1901 to 1950.

48 posted on 10/15/2005 10:47:26 AM PDT by Non-Sequitur
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To: Arizona Carolyn
BTW. what the "H" is congress doing now days? Seems to me all hearings and decisions are being pushed into special commissions...

By golly, you're right. We need a bipartisan commission to study that and come up with some recommendations. In fact, we probably need a new government agency, the Department of Commissions, to oversee them.

49 posted on 10/15/2005 11:09:35 AM PDT by Mind-numbed Robot (Not all that needs to be done needs to be done by the government.)
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To: Mind-numbed Robot

You should re-read the opening sentences on FreeRepublic's homepage once in a while.


50 posted on 10/15/2005 11:12:17 AM PDT by DTogo (I haven't left the GOP, the GOP left me.)
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