Much-needed advice for our Congress.

• Author: Adams, Tucker Hart
• Position: The ECONOMIST

NOV. 30, 2012

Dear members of Congress:

EMT years ago I wrote a very nice letter to our new president giving him some useful advice on things to do during his term in office. It was such things as lowering the speed limit to 55 and imposing a $5-a-gallon tax on gasoline in order to reduce our dependence on fossil fuel. And putting a $5-a-boule tax on bottled water so we'd go back to drinking our perfectly satisfactory tap water. And adopting zero-based budgeting. But I never received a response from him, and he appears to have ignored my suggestions. Perhaps his staff never gave the letter to him.

Alter thinking about it. I realize that Congress, not the Executive Office, is where the important decisions are made. So, I want to make some helpful suggestions to you to ensure on preside over a productive four years for our country and its economy.

The first thing you nerd to do is eliminate the fiscal cliff: I realize that the easy thing to do is make some modest adjustments to tax and spending policy and leave the big problems for a later Congress to solve. But, the longer you put it off, the bigger the problem will become.

The answer to our seemingly endless budget deficits (the budget has been balanced only live i Ines since the early 1960s is quite simple. Get rid of all income tax deductions. Get rid of the deductions big corporations enjoy. Get rid of the deductions the wealthy enjoy. Get rid of the deductions the middle class enjoys. Get rid of them all.

Now, I realize that on the surface it looks like everyone's taxes will

go up. And no one gets reelected to Congress on a program of raising taxes. But, don't be fooled by what appears to be obvious.

If' you get rid of all deductions. you'll be able to lower the tax rates on everyone. That will make the Republicans happy. And tax revenues will increase so there is less need to cut vital social programs, which will make the Democrats happy.

Of course, that means individuals and businesses will make decisions based on what is best rather than what is most tax advantageous. We may end up living in smaller houses or not buying a home until we are a bit older. Europe has managed to get along for generations doing that. I don't believe we will stop giving to our favorite charities. Maybe some people give simply for the tax...