One way my views on tax policy differ from many of my conservative friends is that I think revenue & distribution dwarf just about all other considerations.
IF I could choose revenue/distribution would be happy to let Glenn Hubbard, Alan Viard or @kpomerleau design the system.
IF I could choose revenue/distribution would be happy to let Glenn Hubbard, Alan Viard or @kpomerleau design the system.
But there are few improvements in the aesthetics of the tax code that I would be willing to trade for any loss on revenue or distribution. I've discussed this in many places including here, bottom line is growth effects are tiny compared to distribution. obamawhitehouse.archives.gov
For example, I agree w/ much of @kpomerleau's criticism of the min tax. But his analysis is relevant in deciding minimum tax vs. other taxes.
To understand the choice of min tax vs. no tax need much more on consequences of these aesthetic issues.
aei.org
To understand the choice of min tax vs. no tax need much more on consequences of these aesthetic issues.
aei.org
(BTW, my favorite way to raise taxes on corporations in a manner that would increase growth would be permanent expensing, disallowing interest deductions and a higher corporate tax rate.) hamiltonproject.org
The bill also falls short of many other things I've advocated for and matter even more, like full refundability of the child tax credit and a global minimum tax.
But it's a compromise, is late in the game, so worth comparing it to the relevant alternative which is nothing.
But it's a compromise, is late in the game, so worth comparing it to the relevant alternative which is nothing.
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