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Plug. you may have heard a term floating around washington, tax reform. when politicians get specific, quote, base rodding and he rate reform. it is bieber and honey boo boo and gangham style all rolled into one. when ronald reagan ran for office he laid out the principles he was going to foster. he said would he lower tax rates. he said would he broaden the base. those are my principles. bring down rates. broaden the base. simplify the code. and create incentives for growth. we re willing to accept some additional revenues via tax reform. simpler, cleaner, fairer tax code with fewer loop holes and rates for all. in simpson-bowles, democrats love it too. base rod and tax lowering platform. sounds so good, doesn t it? sounds better than charity destroying home shrinking state burdening tax reform. ....
Broaden the base. simplify the code. and create incentives for growth. we re willing to accept some additional revenues via tax reform. simpler, cleaner, fairer tax code with fewer loop holes and rates for all. in simpson-bowles, democrats love it too. base rod and tax lowering platform. sounds so good, doesn t it? sounds better than charity destroying home shrinking state burdening tax reform. but that is what it actually is. the actual definition of base broadening tax reform that is emerging in the ongoing fiscal cliff negotiation says tax reform that limits itemized deductions among high taxpayers. that is a very boring sentence. do not be bored. this is important. here is what it actually means. as former budget director pointed out in a bloomberg column, 90% of those itemized destructions for the rich is three categories. ....