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Tax Reform Group Blasts Presidential Tax Panel 10/18/2005 3:50:00 PM To: National Desk Contact: Tom Wright, 800-FAIRTAX, Leo Linbeck, 713-966-5846, or Ken Hoagland, 713-667-3331, all of FairTax.org HOUSTON, Oct. 18 /U.S. Newswire/ -- Americans for Fair Taxation today blasted the Presidential Panel tasked with proposing fundamental changes to the tax system as engaging in, "Fraudulent political theater designed to protect the corrupt tax code and those who profit from its manipulation," said Leo Linbeck, chairman of the national grassroots organization. "When a Presidential Panel engages in such activities it does a great disservice to the American people." "Far from making...

Tax Reform Panel's Idea of Tax Reform? Raise Taxes President Bush's Panel on Tax Reform has leaked what appears to be a peak at what it will recommend in overhauling and reforming the Federal Income Tax Code. Their recommendation so far? It's to raise taxes under the guise of eliminating the Alternative Minimum Tax. Without a detailed history lesson, the Alternative Minimum Tax (AMT) law was passed in the late 1960's because 155 Americans who earned 200,000 dollars or more used legal loopholes to almost eliminate their entire income tax liabilities. Congress closed the loopholes with the AMT yet never...

WASHINGTON (Reuters) - President Bush on Friday appointed two former senators -- Florida Republican Connie Mack and Louisiana Democrat John Breaux -- to head a panel to come up with recommendations on reshaping the tax code. snip Bush said Mack, the chairman, and Breaux, the vice chairman, would lead an effort to come up with recommendations on how to make sure the tax code "encourages economic vitality and growth," instead of discouraging it and requiring Americans to spend billions of hours filling out tax forms. snip The tax panel is to look at a broad array of options, ranging from...