Current debates about ideas to revive the economy generally fall into alignment with either classical or Keynesian economic theory. Some suggest that growing U.S. debt is a strong incentive for tax reform. (1) Should we have a flat tax? Why or why not?

 What are the merits and risks of other tax-based reforms? Please assess at least one additional reform. Examples include, but are not limited to: a national sales tax, value-added taxes (VAT), and eliminating a variety of deductions or credits.

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Answer The debate over tax reform particularly in the context of economic revival often revolves around contrasting economic theories and proposed policy measures One such debate centers on the idea o... View the full answer