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WHO SHOULD YOU BELIEVE?

March 04, 2005

If you looked at the headlines, you might think two Alan Greenspans testified before the President's Advisory Panel on Tax Reform yesterday.

From today's print edition of the Des Moines Register (apparently not online):

From today's Tax Analysts online edition:

Witnesses testifying before President Bush’s tax reform panel March 3 reinforced the message the group has heard before: Don’t bother trying to replace the current system with a whole new one.

Federal Reserve Board Chair Alan Greenspan and former Treasury Secretary James Baker, who both agreed the system was broken and in need of overhaul, advised the group to approach tax reform with an eye toward the current system.

(emphasis added)

Our view: a little of both. Mr. Greenspan may want to nudge the existing system to one that begins to look like a consumption tax. Such a tax might look a lot like the existing alternative minimum tax, but with extra breaks for savings. But you may have already heard that.

BUT YOU DON'T HAVE TO BELIEVE ANYBODY!

Through the miracle of the internet, you can decide for yourself what Mr. Greenspan had to say, courtesy of the TaxProf Blog and his collection of Tax Reform Panel links.

The whole thing has Professor Maule perplexed.

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