Elaine Kamarck on tax reform

Time to Reform Complex Tax Code
By Elaine Kamarck

“There are very few “teaching moments” in politics, but the drama surrounding the current debate over the fiscal cliff is one of them. As it unfolds, it is becoming clear that it is time for comprehensive tax reform. Last reformed in 1986, America’s Tax Code was once the envy of our trade competitors. By broadening the base and lowering the overall rate, President Ronald Reagan and House Speaker Tip O’Neill set the tax standard for the rest of the world that led to two decades of unparalleled economic success.”

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