Raise Tax Revenues, Not the Tax Rates

Martin Feldstein, New York Times
Cambridge, Mass. REDUCING the budget deficit and stopping the explosion of our national debt will require more tax revenue as well as reduced government spending. But the need for more revenue needn't mean higher tax rates. As the bipartisan fiscal commission appointed by President Obama stressed last year, tax revenues can be increased substantially by limiting the deductions, credits and exclusions that are essentially government spending by another name. Tax credits for buying solar panels or hybrid cars are just like government spending to subsidize those...

Source: http://www.realclearpolitics.com/2011/05/05/raise_tax_revenues_not_the_tax_rates_254920.html

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