It's hard to see how they overcome some of the intrusions onto really pretty sacred territory.
The other thing it does is allow him to keep the focus on Social Security in the waning days of this Congress, ... If you put this proposal out at the end of July, the conversation shifts.
This is a very complicated puzzle to try to piece together.
There is zero chance any member of the Fortune 100 would ever pay corporate taxes ahead of time. Corporations do not have the slightest interest in paying corporate taxes early. They're not going to volunteer money to the government.
[The consumption tax idea is] at great odds with the political center of the country, ... How do we get to a system that better encourages savings and investment, without creating a system that can be characterized as benefiting the rich?
I don't think it changes the long-term timing of (tax reform). This was going to be next year's issue in any event, ... sitting out there for five or six months.
The political problem is that a lot of the people who will benefit from the AMT being repealed don't know they have the problem yet.
But that's not where the revenue comes from.
My guess is the panel is playing with a couple of different ideas. One is some...reform of the current income tax system and the second is a value-added tax.
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