A Tax Plan To Please Everyone And No One

For politicians, these are the worst of times. With elections just 10 months away, the economy is stagnant, voters are angry, and all the easy answers seem to have evaporated. Because the first instinct of lawmakers is to "do something," Congress and President Bush will return to Washington in late January with much-ballyhooed economic recovery plans. And by spring, they will likely agree on some sort of antirecession package. But the plan--built on a modest collection of tax cuts--will have a lot more to do with politics than economics.

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