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CATCHING UP

October 10, 2005

Last week a lot of things happened that I didn't have time to post on. Fortunately, others did. A few highlights:

ADELPHIA LOOTERS FACE TAX CHARGES.

John and Timothy Rigas, recently convicted of looting Adelphia Communications, now face charges of evading $300 million in federal taxes. Russ Fox at Taxable Talk has more.

Ten Principles of Sound Tax Policy

The Tax Foundation's Tax Policy Blog has listed put together a top-ten list that should be read in unison by the members of the Senate Finance Committee and the House Ways and Means Committee before every drafting session. Especially #2:

2. Be neutral. The fundamental purpose of taxes is to raise necessary revenue for programs, not micromanage a complex market economy with subsidies and penalties. The tax system’s central aim should be to minimize distortions in the economy, and to interfere as little as possible with the decisions of free people in the marketplace.

Morrison Withdraws from Consideration for Assistant Treasury Secretary for Tax Policy Post

The bench on the Bush Administrations tax policy team is as thin as the Packers with the withdrawal of Philip Morison. This means the administration hasn't had a full-fledged Tax Policy chief since Pam Olson resigned in December 2003. That can't help the sputtering tax reform push. The TaxProf has the scoop.

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