Not to be overly dismissive of worried civil libertarians: but could the government and the phone companies, working in tandem, ever really be effective?
Congress voted, by healthy margins (244-185 in the House, 54-44 in the Senate), to extend the tax cuts on dividends and capital gains through the end of 2010. Now all the tax cuts will expire at that time. It was a wise, and overdue, move. Reduced taxes on capital fueled the late-1990s boom, which really took off when Congress cut capital-gains taxes in 1997, and the current one, which began in earnest when Congress enacted further tax cuts on capital in 2003. But Republicans won’t have sealed the deal against higher taxes until they first restrain and then cut spending. Our corporate taxes are high compared with those of most of our trading partners, and our tax code remains excessively complex and inefficient. There is plenty of work still to do.
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