1,000th Blog Post!
October 19, 2007
The blog post just before this one was our 1,000th blog post since we launched the Tax Policy Blog about two and a half years ago. Thanks to all who read it and help make it a success!
One classic blog post of ours from two years ago today discusses the simultaneous birth and death of the ignored recommendations of the President’s Tax Reform Panel:
The panel intends to call for the capping of tax deductions on interest for home mortgages and employer-sponsored healthcare, eliminating the deduction for state and local taxes, and overhauling tax reductions for popular retirement savings schemes. In exchange, it will recommend abolishing taxation of dividends, cutting personal and corporate income tax rates, and ending the worldwide taxation of US corporate earnings.
The most controversial of its recommendations is likely to be reducing the mortgage interest tax deduction, which allows taxpayers to write off their annual interest payments on home loans of up to $1m.
Even before the panel’s final report has been published,the powerful home-building industry has been lobbying to kill the proposal.