An executive summary of the paper can be obtained here. An updated form of this paper can be acquired at Tax Reform must not enhance the Debt – Here’s 5 reasoned explanations why posted August 30.
Tax reform is close to the the surface of the agenda in Washington. This might be encouraging because individual and business taxes are extremely complex, anti-competitive, ineffective, high priced to adhere to, and full of almost $1.6 trillion of deductions, credits, as well as other taxation choices. Producing a taxation rule this is certainly more simple, reasonable, efficient, and competitive will boost economic development, which may not just enhance the nation’s financial situation but result in greater wages and incomes.
Preferably, comprehensive taxation reform should broaden the taxation base, reduce the prices, grow the economy, and lower deficits. As an absolute minimum standard, tax reform must not increase the financial obligation. Read More