Romney Should be Even More Aggressive on Taxes

Romney Should be Even More Aggressive on Taxes

Did you know that personal income taxes equal about 10% of personal income? Think about that. In principle, we could collect all the income tax revenue the government is collecting today for a tax rate no higher than the biblical tithe.

Of course that would mean no deductions (including deductions for charitable giving and mortgage interest, as well as the standard deduction), no credits (including credits for wind mills and solar power panels) and no loopholes (including tax free interest on municipal bonds). But isn't that a tradeoff worth considering?

Economists are almost unanimous about the economic...