The Wall Street Journal reports today that,
President Barack Obama’s initiative to raise new tax revenue to pay for major policy changes likely will focus in the short run on tightening enforcement against businesses and wealthy individuals.
In the long run, some experts believe it could lead to sweeping changes in the tax code itself.
White House officials disclosed the tax initiative on Tuesday, saying they intend to explore ways to better enforce the current code as well as improve it by eliminating corporate subsidies and untangling its many complexities.
Mr. Obama has assigned the task to his President’s Economic Recovery Advisory Board, an outside panel of economists and businessmen headed by former Federal Reserve Chairman Paul Volcker.
We anticipated this here, here and here.
3 responses so far ↓
1 Orlando IRS Office to Hire 10 New Collection Agents // Mar 27, 2009 at 9:15 am
[...] said
2 Federal Receipts Down 14% From Last Year // Apr 27, 2009 at 6:42 am
[...] We previously wrote about this here, here and here. [...]
3 The Tax Man Has a Plan: IRS Issues 5 Year Strategic Initiative // Apr 29, 2009 at 5:06 pm
[...] out, folks. The government has to pay for these bailouts somehow and going after delinquent taxpayers
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