George Washington law professor and economist Neil H. Buchanan discusses politicians' current fixation on the budget deficit and argues that Democrats who take an anti-deficit stance to attack the Republican tax bill are playing right into Republicans’ hands. Buchanan explains why blanket declarations about decreasing the budget deficit as a tax reform fix-all are problematic and cautions Democrats (along with journalists who report on tax reform issues) to be mindful of the arguments they choose when countering Republicans.
George Washington law professor and economist Neil H. Buchanan continues his discussion of tax reform, suggesting that a starting place for meaningful reform would be to tax wealth more effectively, tax unrealized gains, and eliminate the preferential tax rates for investment income. Buchanan points out that even modest changes in these areas would significantly address the problem of growing economic inequality in our country.
In this first of a series of columns on tax reform, George Washington law professor and economist Neil H. Buchanan describes a few items that should not be seriously considered in attempting to improve the status quo. Buchanan argues that the notion of a complete overhaul of the tax code, and the proposal that the tax code should be “simpler,” ignore important considerations and distract from real issues.