A Little Less In Your Stocking

Yesterday, Big O appointed perhaps the greatest tax-policy review panel in the history of tax-policy review panels.

Publicly, we're saying this is OMB chief Pete Orszag's idea, but everyone here knows that it was the Big Guy's brainstorm, because Big Guy's hobby is tax policy.

The plan is for this panel to come up with a plan to "rebalance" the U.S. tax system, and to end "corporate welfare" as we know it. By "rebalance" we mean "raise taxes," and by "end corporate welfare" we mean "create new taxes."

The plan is due on Big Guy's desk by December 4, a nice early Christmas present for America.