Taxing times

As the gathering storm against Obama's proposed $3.6 trillion disaster of a budget begins, The One has realized that it's just not right to spend that much money and ruin the future of our nation...unless, of course, he can increase revenues a bit.

That pesky blue line just isn't going up fast enough for the Democrats to complete their socialist takeover of the last bastion of freedom on earth. This is obviously an outrage that cannot be allowed to stand...we must "rebalance" our tax code.

President Barack Obama is putting former Federal Reserve Chairman Paul Volcker in charge of a tax- code review aimed at closing loopholes, streamlining the law and generating revenue, budget director Peter Orszag said.

Volcker, 81, who heads the president’s Economic Recovery Advisory Board, is being asked to take a look at the laws in an effort to rebalance the tax system.

Orszag said the review, given a deadline of Dec. 4, is being ordered to make recommendations on steps to simplify the code, built over the last 96 years, in ways that would reduce tax evasion and what he called “corporate welfare.”

“There are hundreds of billions of dollars in uncollected taxes each year,” Orszag said in a conference call. The Volcker board “will be examining ways of being even more aggressive on reducing the tax gap.”

It does seem unfair that those greedy capitalists find ways to avoid paying portions of the highest corporate taxes in the world. It's not like they would pass those costs along to the consumer or anything.