Ask the Experts: If I Could Make One Change to the Tax Code, I Would?
Monday, March 25, 2013
Card Hub's “Ask the Experts” series surveyed authorities on tax policy from around the country about how they would choose to alter the tax code in an ideal world.
John Spry – Associate Professor of Business Economics at the University of St. Thomas Opus School of Business:
“[I would] lower rates and broaden tax bases, while eliminating the double taxation of income that is taxed when you work and taxed again when you save.
This is standard economic advice, but except for rare events like the 1986 Tax Reform Act, politicians tend to prefer higher tax rates while retaining the ability to hand out lots of tax preferences.
Originally published: 03/25/2013, Card Hub