WSJ: Reid on tax reform: drop dead
From: Cynthia Canevaro <cindy.canevaro@...>
To: FASTSupportTeam@yahoogroups.com; "FairTax_DD@yahoogroups.com" <FairTax_DD@yahoogroups.com>
Sent: Friday, July 26, 2013 5:25 PM
Subject: [FAIRTAX_DD] WSJ: Reid on tax reform: drop dead
July 25, 2013'We need tax reform," said Harry Reid on Thursday, by which he meant we don't need tax reform. The Senate Majority Leader effectively killed a rewrite of the tax code for this Congress by decreeing that it must be conducted "under the total understanding that it can't be revenue-neutral. It can't be even close to revenue-neutral. There has to be significant new revenues." He'd start with about $1 trillion.This kneecaps the effort by Mr. Reid's fellow Democrat and Senate Finance Chairman Max Baucus, who has been working in good faith with House Republican Dave Camp to pass a revenue-neutral tax reform. That's the spirit in which tax reform passed in 1986, but orders have come down from the Obama White House that this won't do.Mr. Reid even dumped all over Mr. Baucus's recent dear-colleague request for new tax priorities. "I'm not going to be involved in this. I'm not on the committee, I'm not going to do it. I'm not even going to consider it. I frankly haven't read the letter, don't intend to," Mr. Reid declared. That's what's so lovable about Harry: his subtlety.The only benefit of Mr. Reid's arctic rebuff is truth in political advertising. Democrats swear they support something they call "tax reform," but until the Obama Presidency that has always meant trading lower rates for fewer loopholes. A more competitive tax system with less complexity and distortion is one of the best opportunities to improve on the economy's current weakness, as Messrs. Camp and Baucus heard from hundreds of experts across dozens of hearings.Mr. Reid is declaring that Democrats like the tax code the way it is, except that it should be even more taxing.