TaxBytes

On Oct.

For years the Institute for Policy Innovation has supported fundamental tax reform, such as the suggested “flat” income tax.

So what do you do if you’re Barack Obama and you’ve just been elected president of the United States and you’ve promised to spend a gazillion dollars to improve education and health care and the infrastructure and to hand out “tax cuts” (many of which will actually be income transfers) to 95 percent of the public? And you’re fiscally constrained because the government is bailing out or buying out banks left and right? What you need is some serious new inflows of cash, you need it fast, and, contrary to everything you’ve claimed on the campaign trail, you know you can’t get it all by dinging the people making over $250k.

As best we can tell, the free market had little or nothing to do with the banking crisis that has caused panic throughout the world.

Because so many members of Congress have drunk deeply from the big-spending troughs of Washington—especially after many of them campaigned as fiscal hawks—we think it’s time for them to step forward, confess their failures and get right with the U.

The U.

"If you came here because you believe in limited government and the freedom of the American marketplace, vote in accordance with those convictions.

In a prior TaxByte, we saw that Obama’s tax plan would increase marginal tax rates for just about every major federal tax.

Treasury Secretary Henry Paulson finally got one right.

This week, the U.