A Sound Tax Policy

Every four years, we citizens of Iowa must endure a bevy of presidential hopefuls presenting tax proposals. These proposals have a few things in common: (1) They're long, complex, and full of details; (2) Pundits attack the details; (3) Iowa voters don't read the details; and (4) They never become law as written.

Perhaps this cycle will be different. Perhaps, rather than long and complex proposals, the candidates will simply articulate their fundamental beliefs of what a tax policy should be. Then if elected, these principles can be the foundation on which the tax code is written.

Will this happen? It's doubtful, but in a triumph of hope over experience, let me offer the following five tax-policy principles as a guide.