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Market-Based Solutions to Vital Economic Issues
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Apr 27, 2021

Written Testimony for Creating Opportunity through a Fairer Tax System. Senate Subcommittee on Fiscal Responsibility and Economic Growth, April 27, 2021.

Summary

My testimony will focus on perceptions of fairness in the tax code and recent proposals to fix such perceived unfairness; specifically, a tax on book income and the wealth tax. My main message is that corporations and individuals remit the taxes they do, including in situations some perceive as unfair, frequently because of explicit allowances in the tax code. In other words, the largest holes in our national tax revenue bucket are ones Congress has, itself, poked, and not the product of elaborate tax planning schemes, as is a current misperception.


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