AEIdeas

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Discussion: (8 comments)

  1. You’ve been pushing tax reform as the key to economic growth for years, and now when it looks like tax reform may be part of a deal with Obama, you think it’s being oversold.

    Pick which one you are a conservative economist or a republican partisan

  2. re: ” So now what?”

    this is what Romney was saying and he never would deal with the specifics.

    Then Boehmer tried to trade un-specified “reforms” for cutting the marginal rate and no dice as the President wasn’t buying it from him either.

    and who says that cutting tax deductions is not increasing taxes anyhow? Are you not increasing taxes on those with deductions just as surely as you would with increases in the marginal rates?

    This is the GOPs big problem.

    They have a 16T debt and a trillion dollar deficit that they helped to create and they don’t want to pay the bills now that they’ve come due.

    1. They have a 16T debt and a trillion dollar deficit that they helped to create and they don’t want to pay the bills now that they’ve come due“…

      Then why not Sen. Rand Paul’s Budget Ideas?

      1. Wow JuanDoze – he’s gonna cut DOD big time!

  3. sure, it looks small as a % of GDP, but total revenues for fiscal 2011 were just 13% of GDP…

  4. Seriously, has there ever been any meaningful tax reform since the inception of income tax?

  5. Thomas Sullivan

    The best reason for tax reform is to simplify the process and make tax compliance easy and inexpensive. Current compliance costs are about $300 billion per year. It is a waste of 2% of our economy, and it happens every year. Complexity is wasted motion. Virtually no politicians are talking about compliance costs.

    1. ” The best reason for tax reform is to simplify the process”

      true – but is that really realistic?

      want to simplify taxes?

      get rid of itemized deductions and give capped credits to everyone for donations, mortgages, health insurance, etc.

      there is no itemizing.

      you write down your credits (and keep documentation to prove it).

      everyone gets the credits not just those who can meet thresholds.

      you do it all on a 1040EZ

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