The Economist peers down its very British nose:

"The mother of all tax reforms" was how Charles Rangel, the Democrats' top tax-writer in Congress, described his new plans for revamping America's tax code. "The mother of all tax hikes" was the response from many Republicans. Both the creator and the critics are wrong. Mr Rangel's proposal is "revenue-neutral", raising taxes in some places while cutting them elsewhere. But it is not a bold reform; more a tweak than a transformation of America's absurdly complex tax code.

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