(Originally broadcast on March 9, 2012.)
Our tax code has been described as a morass of different rates, deductions, loopholes, and subsides that is different depending on each individual taxpayer’s 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? Need to Know’s Ray Suarez hosts a panel of tax experts who debate how to fix the tax mess. The panel 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. Want more? Listen to the whole, unedited conversation here: