ALLEN: Remembering the tax-reform lessons that Reagan taught

It’s the key to freedom, fairness and renewed hope

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Second, adopt a competitive, modern international tax system, similar to those in most other industrial countries. To encourage investment from abroad, double-tax burdens must be eliminated in the United States.

Finally, ensure a simpler and balanced system by treating all businesses fairly without regard to sector, size or the type of entity. The current individual and corporate alternative minimum tax rules are outdated and should expire.

A new system should incorporate straightforward, predictable rules that boost taxpayer confidence in the fairness of the law and ease in compliance.

Comprehensive tax reform is in the best interest of America. It’s happened before in a similar time of need. Let’s be motivated to create a more vibrant, competitive economy that promotes job creation and innovative investment here in the United States.

This is an opportunity to prove once again what President Reagan taught us: “Governments don’t produce economic growth, people do.” Also, “Let’s not let prisoners of mediocrity wear us down,” and “the few rob us of all our dreams.” America needs positive leadership again.

George Allen is a former governor and U.S. senator from Virginia. He serves as Reagan Ranch Presidential Scholar for the Young America’s Foundation.

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