“People in Washington like to grant favors and withhold favors,” he said. “They like to raise money to run campaigns, and they would not raise as much money if things were simpler for people and corporations.”
- Tax income only once.
- Eliminate preferences.
- Eliminate the estate tax.
- Eliminate corporate tax.
The latter, he argued, raises only about $11 billion annually. In recent years, it never raised more than $20 billion per year.
“But as a moral matter, all of that has been taxed already,” he said. “You eliminate the corporate tax and then you have capital gains and dividends paid at the normal rate. You would certainly raise more money than you are now.”
Golub wrote in a recent Wall Street Journal op-ed titled “A Simple Tax Code Is a Fair Tax Code”: