My first take when I saw the headline and the link was - "Oh here comes another NYT story to bash BUSH". I believe just like you - income tax is bad law ans should be replaced by some tax collection scheme far more equitable. Why are we using the Federal Income tax as a means of giving CASH to low income earners who never pay Fed Income taxes? This is nothing more than an income redistribution scheme hidden from view. Remember when the Bush tax refunds were doled out? The poor had to get something even though they pay no Fed income taxes. Scrap the whole thing and go with a national sales tax. This would punish the consumers and reward the savers, who are the source of financing for capitalism.
LOL! As if corporate profit, from the sole proprietorship to the the multinational conglomerate were not the fuel which drives the engine of growth.
Without spending (people buying the product) there is no company to invest in, it goes belly up!