Reihan Salam invites conservative opprobrium in what we think is the latest National Review (yes, we admit to being behind on our reading) when he says we should consider raising the top tax rate to a number that starts with a four. This will bring reasoned responses like: Kill the witch!
Well, seriously, we might consider Reihan’s suggestion. We agree with him that there are two questions: What are the options and what you get in return? Like Reihan, we want corporate tax reform. Unlike Reihan, we prefer rate reductions rather than immediate expensing. At a minimum we would also eliminate the Alternative Minimum Tax or AMT as part of the trade-off.
Before you get out the robes and start the incantations for Reihan and your humble scribe, you need to think about what is actually going to be proposed and what will pass. This is nowhere near our proposed policy but our priority is corporate tax reform. What are your priorities and what deals are you willing to make? If you are not willing to go the full Monty Hall then do you think that anything will change for the better?