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IOWA SENATE VOTES TO ROLL BACK TAX ON MATH-IMPAIRED

March 14, 2006

It was a busy day for the Iowa Senate yesterday. Not only did they fix the state's super-duper-long-term capital gain deduction holding period rule and select a state fish, they voted to remove the state-run slot machines video lottery installations. The roll call is here.

UPDATE: Don't miss this fly-on-the-wall account of yesterday's Touchplay debate.

Speaking of math-impaired, here is a hilarious list of measurements of the internal revenue code by our elected officials. My favorite, from Rep. Nick Smith of Michigan:

"the federal tax code has about four times as many words as the bible. Accompanying the law are a staggering two-and-a-half million pages of regulations"

I never knew you could fit 2.5 million pages in five paperback volumes that take up less than a foot of shelf space. Must be the fine print...

Of course it's funny, but not so much when you realize we elect these people. Is it just to get them to go away? (Hat tip: The Tax Prof.)

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