Cheer:
With many Americans engulfed in the burdensome process of preparing their tax returns, Federal Reserve Board Chairman Alan Greenspan's embracing the notion of overhauling the nation's tax system is tantamount to a breath of fresh air.
Greenspan said Thursday that some form of a consumption tax, such as a national sales tax or value-added tax, could spur greater economic growth.
But good advice to the federal government is not to look at Pennsylvania for suggestions. Judging from what is evolving into the "Act 72 debacle" - and the unpalatable Homestead Tax "reform" before it - nothing easy or very acceptable will emerge on the basis of Keystone State ideas - especially from the General Assembly.
"Many economists believe that a consumption tax would be best from the perspective of promoting economic growth - particularly if one were designing a tax system from scratch - because a consumption tax is likely to encourage saving and capital formation," Greenspan said.
That isn't the overriding opinion in this state, which can't seem to fully divorce itself from the property tax, regardless of what purported reform measures it seeks to implement.
Perhaps that's why people have more faith in what Greenspan says than in what Pennsylvania lawmakers believe.
