Solutions for America: Tax Reform

Taxes should raise the revenue to fund necessary government operations in ways that cause the least possible economic damage. Accordingly, Congress and President Obama should reform the existing tax code and drop their current plans to increase taxes on high-income earners, small businesses, investors, and other job creators. For good reason, no school of economic thought advocates raising taxes during a recession or in its immediate aftermath. Raising taxes now would be reckless and irresponsible. Instead, Congress should focus on tax reforms that would grow jobs and the economy.