One of the 17 presidential candidates recently said, “I can write a tax code in three pages.” Carly Fiorina is not alone among her fellow 2016 presidential contenders in advocating tax reform and simplification of the tax code. However, none is quite so ambitious.
I suppose that theoretically one could write a tax code on three sheets of paper that would raise enough revenue to fund the US government. Let us consider that challenge for a moment by measuring a baseline first. Then we can consider the issues of simplification.