Over 70 percent of Americans think our tax system needs major changes and reform. So if you’re running for President in 2016, you’re going to need to sort through all the different tax reform proposals out there. Luckily, Heritage Foundation economists Curtis Dubay and David Burton have just published “A Tax Reform Primer for the 2016 Presidential Candidates.”
Why should candidates care about tax reform? Dubay and Burton write:
The country needs tax reform because the tax code stifles economic freedom, preventing the economy from being vibrant and prosperous. Fundamental tax reform would alleviate the harm caused by the tax system and significantly increase the size of the economy. This stronger economic growth would substantially improve the incomes of all Americans and enhance economic opportunities.
The primer lists the five principles of any good tax reform, and then details four tax reform plans: the traditional flat tax, the new flat tax, the business transfer tax, and a national sales tax such as the Fair Tax. You can read the full primer here.
Do you support tax reform? If so, tell us why in the comments.