Politics, Tax Law

New Fiscal Sheriff In Town

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Obama’s tax policy is finally revealed:

President Obama and the new Democratic Congress face unprecedented fiscal policy challenges. First, they must endeavor to restore public confidence and return our economy to a period of growth. Here one can only hope that any new economic stimulus is well-targeted and genuinely temporary. Extending unemployment coverage and benefits should take priority. (And we should modernize our archaic system for funding unemployment insurance.)

When we emerge from the current recession, the president must tackle more fundamental issues. We need to put our fiscal house in order, restructure tax policy toward healthcare and health insurance, and shift away from tax expenditures as our principal policy instrument for financing higher education, implementing energy policy, addressing long-term care needs and the like.

“Ronald Reagan will raise your taxes, and so will I.”

Mwahahahahahahaha.

Tax Policy in the Obama-Biden Administration [Tax Prof Blog]

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