Tax Notes Article by Martin A. Sullivan: "Economic Analysis: So 1980s: The Return of Nickel-and-Dime Tax Policy"

Tax Notes has published an article by Martin A. Sullivan, tax analyst, who suggests that the budgetary challenges faced by President Obama are very similar to those faced by Ronald Reagan in the early 1980s. President Obama, like President Reagan, is looking to overcome budget shortfalls, but in a manner that would not adversely affect the average tax payer. Sullivan discusses how Reagan, a candidate who ran on the promise of low-taxes, overcame chronic deficits through "nickel-and-dime" tax reform, rather than general increases. By closing certain loopholes, putting forth tax increases on specific items, and widening the tax base, President Reagan helped make way for President Clinton's budgetary surpluses of the 1990s. According to the author, Obama should look to mimic some of the fiscal policy enacted by Reagan.