Wishful Thinking
How about a loophole-closing, rate-flattening 1986-style tax reform from the new Congress? It would be a lobbyist nightmare, and a repudiation of the Clinton administration's zillions of tax credits for good behavior (extended by the Bushies). But if I squint really hard I can see it happening. Charles Schumer is talking the right way: "I don't think we want taxes to move higher at all; the kinds of things we're talking about easily funded about rearranging federal priorities making sure that some of the shelters are closed -- the offshore shelters and things like that. But the Democrats are against increasing taxes. We want to become more fiscally responsible." Not that I actually think this is anything other than Election Day spin.