What Are Taxes For? Should the primary purpose of taxation be to support the government or maximize economic growth?
Sarah, Mitt and several tea party groups say the tax compromise with Barack Obama is a bad idea, sells out the GOP’s anti-spending promises and, worst of all, helps you-know-who’s re-election chances. But Newt, Mike and Tim think it’s a decent deal. Far be it from me to interrupt the GOP’s holiday spirit. Let us stipulate, however, that the furtive, ragged tax bill being let out the back door of a lame duck Congress proves–officially and conclusively–that tax policy in the United States has hit the wall.
A compelling, even frightening article in Tuesday’s Wall Street Journal about a tax system that is a morass of extenders, extrusions, loopholes, credits and bubble-gum fixes ended with the story of a grievously ill cancer patient balancing the benefits of taking an experimental drug against the estate-tax benefits to his family of an early death.