Shultz Says It’s Time to ‘Clean House Again’ With U.S. Tax Code
This article is for subscribers only.
George P. Shultz, a former head of the U.S. Treasury and onetime secretary of state, called for the elimination of tax preferences to stimulate the economy and increase government revenue.
“It’s time to clean house again,” Shultz, who headed the State Department for President Ronald Reagan in the 1980s, said yesterday in an interview at Bloomberg headquarters in New York. “The 1986 tax act is sort of the unsung hero of the very good economic times we had for a long time. Of course, politics gums it all up again and preferences get put in.”