Major tax issues in 2016 (William G. Gale, Aaron Krupkin, Brookings)

The federal tax system is beset with problems: It does not raise sufficient revenue to finance government spending; it is complex; it creates outcomes that are unfair; and it retards economic efficiency. In this essay, we discuss several ways to improve taxes including creating a value-added tax, increasing environmental taxes, reforming the corporate tax, treating low- and middle- income earners equitably and efficiently, and ensuring appropriate taxation of high-income households. Although the politics are a major barrier to reform, the next president’s legacy may well be determined by how well he or she handles tax policy.

https://www.brookings.edu/research/major-tax-issues-in-2016-2/