“This frauduluent Tax Simplification group will make the same blue ribbon proposals a Bush group gave 4 years ago, and it will go down the same black hole, as Congress ramps up another useless tax-subsidy-break, all while jacking up tax rates on work and income and production.”
If Obama has no plans to simplify the tax code, he was foolish to add Marty Feldstein, who will be absolutely uninhibited about speaking his mind. Feldstein has done pioneering work on the efficiency losses associated with income taxes, concluding that increases in marginal tax rates among those with the highest incomes can produce economic losses of more than $2.00 for every new dollar of revenue gained. He is absolutely no friend to those wishing to grow the size of government or efforts to load new taxes on the “rich.”
Bills go through Congress.
Congress will do nothing.
This is just an Obama distraction/misdirection play.
It’s not what he says, it’s what he DOES.
Congress added complexity to the tax code and will spend trillions next year.