White House Looking to Drop Income Tax

The NY Times reports that the Bush administration has floated the idea of dropping "the income tax as a whole" and replacing "it with some form of consumption tax."

According to the Times, the "idea was outlined in the White House's annual economic report to Congress. The report, prepared by the White House Council of Economic Advisers and signed by Mr. Bush, offers a scathing critique of the current system and an exuberant description of radical alternatives."

To make things more absurd, the economic report is headlined with: "Tax Relief Package Created Jobs and Softened Recession."