Tax Reform: These Small Steps Could Help Deficit, Economy
(Businessweek) — Is the American system of taxation nearing a watershed moment? It doesn’t seem like it, considering the political brawl in Washington over the soon-to-be-expired 2001 and 2003 tax cuts passed during the Bush era. Lawmakers have known for the past several years that, if they did nothing, the tax breaks would automatically end on Dec. 31, 2010. Now, Washington is scrambling as the deadline looms and the economy sputters.