Friday’s Daily Brief

The Huffington Post 2010-12-03

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Robert L. Borosage: Bipartisan Blight: The Great Tax Reform Mirage

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Robert L. Borosage: Conventional Beltway wisdom these days says that a bipartisan accord can be built around lowering tax rates, simplifying the code, and erasing most tax deductions and loopholes. The problem is that we already fell for this in the 1980s, when deductions were eliminated, but the lobbies that created them remained. Those lobbyists then went to work. The loopholes, tax expenditures, various dodges returned. Now the tax code is so riddled with them that beltway pundits can call for playing the same game once more for the sole benefit of the top 1 percent, who already pays fully one third less than they did in 1970. Click here to read more.

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