Monday, March 07, 2005
Checks and Balances
When Gov't. Grows this Fast, Can Tax Increases be Far Behind?
The short answer is no. My industry is already bracing for new 'user fees' to be levied by the federal government and airlines are fighting a doubling of the 9/11 security fee charged to each of our tickets. Now Senator Graham is making noises about raising the FICA tax (actully raising the salary cap on which FICA Tax is levied). But didn't we vote for the GOP because they traditionally are focused on fiscal prudence, government accountability, and limited power for the feds? Oh yes, that was the GOP circa 1994....it looks like the excesses of the last four years are coming home to roost and it will be interesting to see how it pans out.
Meanwhile, behind the scenes, I can tell you that the business community is watching the whole 'tax reform' issue with great interest and concern.
http://www.washingtonpost.com/wp-dyn/articles/A12185-2005Mar6.html
The short answer is no. My industry is already bracing for new 'user fees' to be levied by the federal government and airlines are fighting a doubling of the 9/11 security fee charged to each of our tickets. Now Senator Graham is making noises about raising the FICA tax (actully raising the salary cap on which FICA Tax is levied). But didn't we vote for the GOP because they traditionally are focused on fiscal prudence, government accountability, and limited power for the feds? Oh yes, that was the GOP circa 1994....it looks like the excesses of the last four years are coming home to roost and it will be interesting to see how it pans out.
Meanwhile, behind the scenes, I can tell you that the business community is watching the whole 'tax reform' issue with great interest and concern.
http://www.washingtonpost.com/wp-dyn/articles/A12185-2005Mar6.html
