For more information, see Eugene's post at The Volokh Conspiracy.
In related news, Michael Graetz's recent Essay on reforming the tax systemcontinues to receive press. It appeared in the NY Times this past Sunday.
With Mr. Bush confronting the likelihood of a war with Iraq, the continued threat of terrorist attacks and a soft economy, tax reform is not his highest priority. Lobbyists and economists in Washington assume that he will raise the issue in his State of the Union address in January, then spend a year or two promoting the principle without backing a specific proposal or pushing for legislative action.He also appeared in the New Haven Register last Friday.
...
But in an effort to push the effort forward, Mr. O'Neill has been canvassing leading tax thinkers like Joel B. Slemrod of the University of Michigan, David F. Bradford of Princeton, Michael J. Graetz of Yale, Ronald A. Pearlman of Georgetown and Alan J. Auerbach of the University of California at Berkeley.
Graetz said his proposal is simply an idea thrust into the public arena for consideration.Again, the Essay is available here and directly from The Yale Law Journal. (In less than two weeks, the Graetz piece has broken 2000 downloads.) Lily gives her criticism of the plan here.
But Treasury Department officials have been giving their former colleague’s proposal serious attention.
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