[Karsus]

But Regan made MAJOR changes to the tax code. Why hasn't GWB done anything MAJOR to the tax code?

[homeschool mama]

***But Regan made MAJOR changes to the tax code. Why hasn't GWB done anything MAJOR to the tax code?

I was nice to you before, bucko. But now you're really cruisin for a bruisin with those remarks.

Get a clue and educate yourself...then come back and talk with some intelligence.

[homeschool mama]

***To all those that think that I am Anti Bush and anti GOP...you are wrong.***

The above is from your screenpage. Your posts on this and other threads are in complete contradiction to what you claim above.

[Tennessean4Bush]

But ReAgan made MAJOR changes to the tax code. Why hasn't GWB done anything MAJOR to the tax code?

What game have you been watching?

• He just proposed eliminating the tax on dividends. This is a major reform not just for its long term growth potential but also for its reform of Wall Street. It puts great structural pressure on firms to have sound balance sheets.
• He proposed dropping marginal tax rates significantly. Passed it in Spring 2001, and is now proposing implementing them retroactively to January 2003.
• He proposed accelerating the per child tax credit to 1000 per child. This is a huge deal to strengthen the tax code to help families.
• He proposed eliminating the marriage tax penalty.
• He proposed private investment accounts for 3-4 of the 15% FICA taxes.

Just because he did not propose what you wanted him to does not mean it was not major and it does not mean it is bad. This is a great proposal.

All these purists on this board that say it is all meaningless unless you remove the income tax altogether and replace it with a sales tax or implement a flat tax are too anxious and are completely unrealistic. The only way that will happen is if there is a disaster or Bush wins reelection in 2004 by 75%-25% while campaigning on the issue as a centerpiece and even then it would be a knock-down drag out struggle.

You have to begin to look at how we got in the mess we are in called the tax code. It did not happen overnight, it happened incrementally over many years. The demonRATs were content to chip away over many years. The pubs need to keep winning elections and if they string 3-4 together, they will get it eventually.

[habs4ever]

I spent the past two days going over the plan, and its MAJOR.The boldest package since Reagan's cut in '81.It's a quasi cap gains tax cut in the excludable distribution account coupled with dividend double taxation elimination and the making permanent of the lower bracket rates.It's much more supply side oriented that at first blush and it does not favour debt over equity.The way this has been done is a masterstroke, both by turning the cap gains tax on its head and making this the most pro-shareholder friendly growth package in 20 yrs.

My guess is that official Washington has been blindsided by the nuance in the approach to getting traditional Republican goals of lower tax rates for all groups, including the corporate sector, and eliminating the negative stereotypes by not actually mentioning "capital gains".Superb tactics have been used.

[mel]

I think we would have seen something earlier, but he had just been in office a few months when one of the biggest tragedies of this country occurred.