Our tax code has been described as a morass of different rates, deductions, loopholes, and subsides that is different depending on each individual taxpayers situation. Homeowners are treated differently than renters; high earners are paying lower rates, in some cases, than middle-class Americans. And, on top of that, the nation faced a $1.3 trillion deficit last year. So, how do we make our tax code simpler and fairer? And how do we produce more revenue without stifling job creation? This week, Need to Know’s Ray Suarez hosts a panel of tax experts who debate how to fix the tax mess.
What’s on this week:
Our panel of tax experts includes: former New York Governor Eliot Spitzer; Emory University tax law expert Dorothy Brown; Bruce Bartlett, who served presidents Reagan and George H.W. Bush; and Cato Institute economist Dan Mitchell.