Essay: A Conservative Tax Proposal

The rich have long been a reliable source of tabloid entertainment, fashion tips and role models for the financially light of heart. The idea that they might also be a source of revenue for our debt-ravaged Federal Government is just beginning to take hold. President Bush has given a faint nod to the principle of fairness with his idea of cutting state and local income tax deductions for the affluent only. And the Democrats, should they recall their ancient affection for the "little guy," may be gearing up to propose that income tax rates for the rich be raised -- at...