Assurance That The Rules Won’t Change Next Week? Who Needs That?

By , April 7, 2011 9:44 am

Gary Becker, George Schultz, and John Taylor have a plan to bust the budget. It’s worth reading. To me the most obvious gem in the plan, and the one most sorely missing in all the talk in Washington right now is this:

Assurance that the current tax system will remain in place—pending genuine reform in corporate and personal income taxes—will be an immediate stimulus.

Congress and the President (any Congress and any President) have used the tax code to implement policy choices. It’s time to leave the rules be, so that business can plan, something they are loathe to do when there’s no promise that the rules won’t change next week.

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