What do NASCAR, the Motion Picture Association, and Puerto Rico rum makers have in common? They all benefited from the Senate's $700 billion economic bailout plan. Hoping to entice the bill's skeptics with some familiar bait, the upper chamber sweetened its deal with more than a billion dollars in tax breaks for special interests. As the Dow plummets, unnerving investors from coast to coast, the House approved the Senate's bill. With the economy hanging in the balance, more responsible members were faced with the question-to pork or not to pork? And while the Senate managed to slip in relief for manufacturers of toy arrows, its quiver contained little for American families. As the sun sets on President Bush's tax cuts in 2010, leaders may use these amendments to leave the impression that the major tax issues have been addressed. They couldn't be more wrong. To restore confidence we must actively pursue tax simplification and permanent tax relief. Energizing the economy means expanding the IRS's grace not to a handful of niche markets, as the Senate suggests, but to all Americans, especially American families. If our leaders are this determined to bail out Wall Street, how much more concerned should they be with rescuing the family from our suffocating tax policy?
Source:FRC
No comments:
Post a Comment