In my 2012 primer on fundamental tax reform, I highlighted the three biggest warts in the current system.
1. High tax rates that penalize productive behavior such as work and entrepreneurship.
2. Pervasive double taxation that undermines saving and investment.
3. Corrupt loopholes and cronyism that lure people into using resources inefficiently.
Now let’s apply the same treatment to the “Reform and Growth Act of 2017” that former Florida Governor Jeb Bush has unveiled in today’s Wall Street Journal.