The former U.S. senator analogizes from 1986 tax reform legislation.
Of course, his analysis of that issue isn’t totally accurate. With the home mortgage deduction, among other things, not all special interest loopholes were eliminated. And, we eventually had to raise the top marginal tax rate higher.
That said, the analogy isn’t all wrong. I would accept his deal, including things like federal medical courts, if we also included a federal bureau/agency for insurance regulation, and adequately staffed it.
If Bradley were familiar with state-level tort reform, or, more specifically, malpractice reform, he would know that, without tough regulation, insurance companies simply pocket the money.
Meanwhile, former George W. Bush CEA head Glenn Hubbard offers a different set of tips.
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