Originally Posted by patteeu
Romney has indicated that he wants to do (b) along with an across-the-board rate cut in order to facilitate (a), so a law change will be required.
It's pretty much exactly what Reagan did in the 1980s: cut the marginal tax rates and reduce loopholes and deductions in order to broaden the tax base.
But if we do that again we could be stuck with another 25 years of prosperity and unprecedented growth, so we sure as hell don't want to go there
. It wouldn't be "fair".