THE GOP CONGRESS BETTER BE DYNAMIC NOT STATIC ON TAXING AND SPENDING
Would you make an effort to find additional ways to reduce your tax burden if your tax rate was suddenly raised 50 percent?
The higher one's income, the more incentive a person has to find ways to minimize his tax burden -- which is why very high tax rates on the rich always fail to produce the projected revenue.
Republican congressional leaders have pledged to undertake tax and spending reform. To do so, they need accurate projections of the impact on tax revenues, job creation and economic growth resulting from their possible alternative reforms.
This requires realistic models of what is likely to happen, so they need to find the best possible experts to manage the Joint Committee on Taxation and the Congressional Budget Office.
These are two key questions I would pose to the candidates for these positions: