Four principles to effectively reform the tax system
Harvard economist Greg Mankiw outlines the four principles legislators should follow to achieve effective reform of the tax system. Writing in the New York Times briefly outlines how these principles would improve what most economists – and taxpayers – would agree is a system in need of an overhaul.
Broaden the base and lower rates
Tax consumption, not income
Tax vices, not virtues
Keep it simple
For more reading from Mankiw on taxes and other economic issues, click here.