Page 2 - New Flat News Today

In contrast to the current federal tax code, a pro-growth tax policy would minimize the tax distortions to the incentives guiding individual decisions.

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The fiscal cliff can be avoided. The key to avoiding this and future fiscal calamities is reform of the mandatory spending programs, from welfare to Social Security, that currently drive federal deficits.

The current tax code is an enormous burden on the economy, preventing it from reaching its full potential. President obama's tax proposal would form a further obstacle for meaningful tax reform.

The economy would perform better if the tax code would only let it. In the past, this has meant tax reform efforts moving toward expensing and lower tax rates, a result following naturally when assuming markets operate under perfect competition.

The 2016 presidential campaign is already well underway. As it progresses, candidates seeking the presidency will increasingly face questions about how they would address federal tax policy. Foremost among them will be how they will pursue tax reform should they become President. They will be asked whether they favor it, why, and to explain their own reform plans.

Congress should take promptly five actions to get government out of the way of private sector job-creation: enact the New Flat Tax, free America’s energy markets, support free trade through international negotiation, halt unwarranted overregulation of markets, and repeal the government’s labor price-fixing for federal construction.

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