First of all, Romney would be a fool to get specific about which deductions he would eliminate and loopholes he would close. If he did that he WOULD be incompetent and not fit to hold the office. To do real tax reform requires building both a bipartisan and national consensus, and you can't do that unless you are in power. So people who complain about him NOT doing that are talking out their sphincters.
Second, our tax system as currently constituted is a mess. The subsidies, the AMT, rates that could change on Jan 1 -- it's an unholy nightmare.
Third, we should only be taxed for two reasons, and two reasons only: maintain the commons and maintain a social safety net. All entitlements should be severely means tested. The federal government should not be in the education business, the transportation safety business, the trade promotion business, the green energy funding business. Billions could be cut tomorrow.
Fourth, we should have a constitutional amendment that says we should never have government spending that exceeds a fixed percentage of GDP. I'd like to see 15%, but 18% is OK.
Second, our tax system as currently constituted is a mess. The subsidies, the AMT, rates that could change on Jan 1 -- it's an unholy nightmare.
Third, we should only be taxed for two reasons, and two reasons only: maintain the commons and maintain a social safety net. All entitlements should be severely means tested. The federal government should not be in the education business, the transportation safety business, the trade promotion business, the green energy funding business. Billions could be cut tomorrow.
Fourth, we should have a constitutional amendment that says we should never have government spending that exceeds a fixed percentage of GDP. I'd like to see 15%, but 18% is OK.