Many of your fellow Democrats want to scrap the Alternative Minimum Tax, and that’s fine as a first step. However, while we’re fixing the tax code, let’s go all the way and have a flat tax that would allow workers to figure out their taxes in minutes, instead of wrestling with forms for hours (or paying somebody else to do their taxes for them).
A flat tax isn’t just good for workers; it’s good for businesses. Last year, the Christian Science Monitor noted that “flat-taxers have moved Eastern Europe from a communist backwater to an investment spring.” Six countries in that former communist region now use the flat tax, and that’s putting pressure on Western Europe. If the United States wants to maintain our economic advantage over the former Soviet bloc, we’d better move toward a flat tax, too.
Our country also should build on the gains in the stock market by making it possible for even more people to own stocks.
In 2005, President Bush proposed Social Security reform that would have allowed any worker to invest a small portion of his Social Security taxes in an account he would own and control. Democratic opposition helped stop that idea in Congress, but we’re almost two years later, and nobody on the left has come up with another solution.
You could bring back the idea of private accounts, which would help low-wage earners by allowing them to invest in the stock market and start reaping long-term gains. If your fellow Democrats won’t go for it, we’d like to hear what they plan to propose instead.
Here’s hoping, Mr. Webb, that you can maintain your reputation as a maverick -- it would be fun to have a Democratic version of John McCain to shake up the Senate. In your Journal piece you perfectly talked the talk of the American left. Now, why not shake up the liberals by proposing some conservative solutions to today’s problems?