I gotta quibble with a couple of Max's ideas here.
If Paula was talking about lifting the cap off the social security tax and reducing the rate accordingly, Max's pooh-poohing the idea is a little quick. So what if it "only" reduces my social security tax by 1%. I'll take it. 1% here, 1% there, pretty soon you've got actual tax fairness. We need a flat tax-- on social security. Of all the loopholes benefitting the rich, I'd guess that the SS tax cap is the best incremental reform we could make on a populist revulsion/ease of understanding basis.
I'd be careful about prolonging the reassessment periods for property taxes. When I got to Philly in 1990, there was a lengthy newspaper article which bemoaned the fact that since assessments hadn't been done in over a decade, that the parts of the city worst hit by 70s and 80s had assessments above current market value while gentrifying areas were being taxed at a fraction of current market value. I guess the second half is the point, but unless assessments are neglected with the skill of a surgeon... you get my drift, I guess.
James in Philly
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