There's a couple of good stories out today about the worsening economy and taxes.

First, you have Paul Krugman who breaks down the employment picture, showing that the "Bush Boom" was a bust, and is getting worse. He points out the facts that the fearmongering Republicans pleas to continue the Bush tax cuts flies in the face of reality. The tax rates during the Clinton years seemed to work pretty well, without running huge deficits.

The other story is about Mike Huckabee's FairTax plan. He wants to get rid of income, payroll and other taxes and replace the with a "consumption" tax, basically a huge sales tax. The article shows that the FairTax isn't so fair, as it shifts the burden onto the middle class, while the rich get a big break.

There are some good things about a consumption tax, but there's a lot of bad things, too. Proponents do not take into account how the wealthiest Americans make and spend money. While the tax would affect nearly everything you buy, investments would not be covered. Therefore, people could build up large fortunes by buying up businesses and stocks and pay little taxes. It's a recipe for further concentrating wealth at the top of the ladder.