Bush Panel Set to Propose Perm. Huge Deficits& Major Tax Shift onto Wage-

[rodeodance]

We gotta do something folks before this happens.


FOR IMMEDIATE RELEASE
OCTOBER 18, 2005
3:25 PM


CONTACT: Citizens for Tax Justice
Bob McIntyre, 202-626-3780

Bush Panel Set to Propose Permanent Huge Deficits& Major Tax Shift onto Wage-Earners


WASHINGTON —Early news reports about the upcoming report from President Bush’s Advisory Panel on Federal Tax Reform indicate that the panel will propose a major tax shift away from capital income and onto wage-earners. In addition, the plan contemplates permanent extension of the revenue losses from Bush’s previously enacted tax cuts past 2010, at a cost of $7 trillion over the next two decades. This in turn will almost guarantee huge federal budget deficits for the future.....