'Let's go with the radical approach." That's what then-Senate Finance Committee Chairman Bob Packwood exclaimed to his top tax aide during a legendary two-pitchers-of-beer lunch at Washington's Irish Times in the spring of 1986. They were trying to figure out how to save Ronald Reagan's dream of a sweeping tax overhaul that appeared dead in the Senate. That lunch changed history. By going "radical," Mr. Packwood meant a wholesale restructuring of the tax system. His plan was to slash the 50% top tax rate to 28%"”which was far lower...
Source: http://www.realclearpolitics.com/2011/08/05/tax_reform039s_moment_260868.html
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