Not that long ago there was a broad political consensus that a fair and efficient tax system has a broad tax base and low tax rates. The grand bargain was no special interest loopholes and low tax rates to boost the economy and jobs. As recently as the 1980s, Democrats and Republicans joined together to pass a tax reform that lowered income tax rates to 28 percent, while eliminating deductions and carve outs. Nearly every Senate Democrat, including Ted Kennedy, Al Gore, Joe Biden, Bill Bradley, and Howard Metzenbaum, voted for this new system.