2:00 pm – Redraft entire tax code


Of course. ‘Cause after he’s through fixing the economy, overhauling health care, reforming the education system, and controlling the weather, he’s got the whole rest of the day staring at him…

Obama Asks Volcker to Lead Panel on Tax-Code Overhaul

March 25 (Bloomberg) — President Barack Obama is putting former Federal Reserve Chairman Paul Volcker in charge of a tax-code review aimed at closing loopholes, streamlining the law and generating revenue, budget Director Peter Orszag said.

Volcker, 81, who heads the president’s Economic Recovery Advisory Board, is being asked to take a top-to-bottom look at the laws in an effort to rebalance the tax system.

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2:00 pm – Redraft entire tax code

  1. Yup – great idea!
    How about – since the G20 wants to redesign the whole world financial system – they hire Paul Martin for a dollar a year – and look at that old scheme of his that’s up on some dusty shelf somewhere – to put a tiny levy on all international banking transactions – that would pretty well eliminate a lot of the need to levy taxes…at least…that’s what I thought he was proposing!
    Zap – taxes – you’re dead!

  2. Seems like a flat-tax would deal with the problems Obama wants fixed but I am guessing that’s not going to happen.

    I thought my tin-foil hat might have been a bit tight last autumn when I was anti-Obama but he’s revealing himself to be even more of a marxist rabble rouser than I suspected he was. It is astonishing how much Obama is trying to do all at one time and how he wants to fundamentally change America.

    • I don’t know about being Marxist, per se, but I definitely agree he seems to be taking on too much at one time.

    • It’s very unlikely any sort of flat tax can meet all three of the objectives in that sentence, and a crapshoot as to whether it can do any.

  3. What does the weathermaker have against North Dakota (and Manitoba)?

  4. jwl – consider this – Shock and Awe – phase II!

  5. Hmmm … I believe a Made in the U.S.A. carbon tax could be on its way. Will Steve call Obama insane?

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