The Hill News

The proposal by the Gang of Six makes many important contributions to the ongoing discussions about how to fix the budget situation, starting with the fact that they have demonstrated that there is broad, bipartisan support for a serious, comprehensive plan to deal with our nation’s debt. But perhaps the most significant contribution is their tax reform plan, which is breathtaking in its boldness and has the potential to unleash significant economic growth. 

If we created a government commission to design a tax code which maximized complexity, compliance costs, unfairness, anti-competitiveness, and economic distortion, we couldn’t do much better than our current code.

Read more...