Thursday, November 18, 2004

Shell Game

From the WaPo:

"The Bush administration is eyeing an overhaul of the tax code that would drastically cut, if not eliminate, taxes on savings and investment...The administration will also push hard for large savings accounts that could shelter thousands of dollars of deposits each year from taxation on investment gains...To pay for them, the administration is considering eliminating the deduction of state and local taxes on federal income tax returns and scrapping the business tax deduction for employer-provided health insurance..."

So, just to be clear on the administration's priorities: make sure the rich don't get taxed on their savings and investment, but eliminate the only incentive employers have for providing health insurance. Right, got it.


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