April's hard truths

摘要

Every year, as millions of Americans scramble to file their tax returns by the statutory deadline of April 15th (technically April 17th this year, as the 15th falls on a Saturday), the spotlight focuses on America's tax code. For George Bush, the result is embarrassing. Quite apart from the recklessness of a fiscal strategy based on cutting taxes and boosting spending, the man who promised to devote his second term to making America's tax system simpler, fairer and more pro-growth has presided over something rather different. During the past five years America's tax code has become far more complex, somewhat less progressive, and has done less to improve incentives to work and save than first appearances suggest. Of course, it is not all Mr Bush's fau Congress has done plenty to help. But Congress never said it would improve matters.