BUSH "TAX REFORM" = HARD TIMES FOR WORKING STIFFS

If there's anyone reading this blog who doesn't understand that the ultimate goal behind Bush's desire to revamp the tax code is to protect inherited and investment wealth at the expense of ordinary wage-earners, you need to read this:

Doing away with deductions and exemptions would preclude tax incentives that are at the core of the president's domestic policy - tax breaks that help people save for retirement, pay medical bills, cover college expenses, afford state and local taxes and meet the costs of raising a family.

A flat tax that exempts investment income would probably raise the taxes of 90 percent of taxpayers and give a large tax cut to the very wealthy.

There's no way to have revenue-neutral tax reform without winners and losers. Under Bush, it's clear who will be the losers. We have a track record to judge, after all.

And isn't it disheartening and depressing that the mainstream media is suddenly getting semi-bold when it comes to questioning BushCo, much too late to do the country the desperately needed pre-election service of informing the public of the truth? I hope their dereliction of duty, and the attendant consequences for all of us, keeps them up at night.