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Blitz Solutions

February 13, 2013 by Robert Asahina

In the final session of the 4% Growth Project conference, Jim Glassman asked the panelists for the one tax policy they would propose to get America to 4% real growth. Lawrence Lindsey: A VAT with no exemptions. Gid rid of the personal, corporate, and Social Security taxes, and replace them with a gross receipts tax. Tax cash, not income. "Cash is a fact; income is an opinion." Moving away from the multiple definitions of income would cut compliance costs, which amount to 22 cents for every dollar collected in taxes. Stop discrimination against creating wealth in America. "If you want efficiency, and you want growth, it's the only way to go." Sam Brownback: A flat tax with a small-business accelerator. "Now is the time to propose bold solutions." People are scared. Nobody has a plan. So the public is willing to consider broad solutions. Edward Lazear: Embodying the principles of low, efficient, and neutral taxes: a consumption tax and zero taxation of investment. Steve Forbes: A low flat tax, instant depreciation, no tax on investment, and no death taxes ("No taxation without respiration"). John Taylor: Get rid of unpredictability. Broaden the tax base (but not too much, to avoid stealth taxes) and lower rates. Alan Schwartz: "Something that looks sustainable" is more important than exactly what is in the tax code. Kevin Hassett: We have abandoned the view of the Founders — that the federal government should figure out how much it needs and mail the bill (per capita) to the states. John Stossel: "Simpify the damn thing" — get rid of all deductions — and that will create growth.  


Author

Robert Asahina

Robert Asahina has been a newspaper and magazine editor and writer, a book publishing executive and editor, and a data management consultant. He was editor in chief and deputy publisher of Broadway Books, president and publisher of the adult publishing group of Golden Books, and vice president and senior editor of Simon and Schuster; deputy managing editor of The New York Sun and an editor at The New York Times Book Review, Harper's, George, and The Public Interest; and a consultant at Freddie Mac. He is the author of "Just Americans" and of numerous articles and reviews for The Wall Street Journal, Harper's, The New York Times Book Review, and elsewhere.

 

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