Our tax system is a dog’s breakfast. Here’s a 3x3 blueprint to fix it
Three “maxims” to guide the changes. Three “no-regrets” steps either side of politics could institute right away. And three “big-picture” measures to work towards in the medium term.
To a tax reform obsessive, the complete absence of any discussion of tax reform during this federal election campaign has been quite depressing.
After a quarter-century without meaningfully fixing the tax system, it won’t kill us to wait another few years. But after a decade of stagnation, including a few years in which our living standards have gone backwards, and serious threats to our major source of prosperity have emerged over that time, the opportunity cost of inaction is only going up.
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Steven Hamilton is assistant professor of economics at George Washington University and visiting fellow at the Tax and Transfer Policy Institute at the ANU.
