Taxes, Taxes, Everywhere
Amity Shlaes has a good column over at Bloomberg News. Her post today is about the likely rise in taxes we are going to see in 2009 and beyond. She admonishes the Democrats for being overly complex when it comes to taxes. She says:
“The overall point isn’t that Obama has or even wants the worst economic programs. As noted here, there are intriguingly entrepreneur-friendly components to a lot of the ideas coming out of his campaign. It’s that complexity for its own sake is no substitute for virtue. A preoccupation with the political ideal of change can bring about the sort of change not even the senator himself wants.”
–Amity Shlaes, Bloomberg News, 10 Jun 2008
In the interest of full disclosure, I must admit to be being an Obama supporter Nevertheless, Shlaes does make a few good points it is worth thinking about regarding our tax future. For one, the oil windfall profit tax is a disaster waiting to happen. The other is that taxes on the higher income brackets, dividends, and capital gains are going up.