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Martin Feldstein on Tax Reform in the NYT Print Thursday, 05 May
2011 04:10  Deficit reduction is all the craze now that it is
official policy in Washington to ignore the downturn and the
tens of millions unemployed and underemployed. (Hey, how many of
these people have advanced degrees and went to Ivy League
schools?)  Harvard economist and former AIG director Martin
Feldstein made his contribution to the effort today in a column
on tax reform in the NYT today. Feldstein wants us to "raise
taxes, but not rates." His proposal is to limit deductions for
tax expenditures to 2 percent of total income.  Feldstein tells
readers:  "What’s the result? Taxpayers with incomes of $25,000
to $50,000 would pay about $1,000 more in taxes; those with
incomes of more than $500,000 might pay $40,000 more."  Before
anyone gets too excited ove