The Price of Taxophobia: Inefficient Taxes

Ever since Ronald Reagan’s election in 1980, American politics has been dominated by the presence of a large and powerful ideological movement that’s primarily dedicated to the cause of tax cuts. One result, as shown by my econ team colleagues’ suite of charts is that we increasingly make public policy by creating tax loopholes:

It’s not a good trend. Simpler taxes and efforts to do a more straightforward consideration of what is and isn’t worth spending money on are a much better idea.