Monday, September 13, 2004
An editorial in today’s Wall Street Journal, Tax Reform Revisited, embraces President Bush’s call for “a simpler, fairer, pro-growth system”:
There are several possible reforms to explore, ranging from a flat tax to some kind of tax on consumption. But any reasonable reform would have to reduce loopholes (and thus the need to phase them in-and-out), lower rates, and abolish the tax bias against saving and investment. The result would be a simpler system, easy for taxpayers to figure out, and transparent so that the price of government services are readily visible. It would deliver a whole lot more equity among taxpayers and tax neutrality among economic activities, and a whole lot fewer distortions.
One response to “WSJ Editorial Embraces Bush’s Call for Tax Reform”
Tax reform is in the eye of the beholder. The titles of many tax statutes enacted since 1954 include the word “Reform”. With all the reform that has taken place, sometimes with good intentions, sometimes not, sometimes unintentionally, most often not all, is now the time for a reformation of tax law to benefit unearned income over earned income?