08-13-2012, 07:30 AM
When Washington confronts our crushing debt burden – and we will confront it either by choice or crisis – the solution will follow a path that is largely accepted among policymakers on both sides. Some form of comprehensive tax reform that lowers rates and broadens the tax base will accompany or precede fundamental entitlement reform. Put another way, tax reform is the policy and political bridge that will help us achieve a grand bargain and avert a European-style debt crisis. As a matter of policy, tax reform is critical because it will help us create real growth and jobs...