"Tax Hikes, Tax Expenditures, Tax Reform -- What a Mess"
The debt ceiling debate has accelerated debate about tax policy to an extent not seen in years. This has revealed some useful tendencies and some hopeful trends. Among this is a much greater appetite for substantial tax reform. The recent debate has also brought to the fore once again some basic structural flaws in the analytical structures that tend to guide tax reform. If the building consensus toward tax reform is to succeed, the principles of tax reform need to be as clear as the tools are as sound. There's a lot of work to do.