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Spellbinding Tax Reform That Doesn’t Even Work on Paper

Aug. 9 (Bloomberg) -- Last week, I wrote about the nonpartisan Tax Policy Center’s effort to run the numbers on Mitt Romney’s base-broadening, rate-lowering tax reform plan. The numbers, as you may have guessed, didn’t add up. And that’s not just a problem for Romney. It’s a problem for anyone committed to the idea of tax reform.

As polarized as Washington is over tax and budget issues, a base-broadening, rate-lowering tax-code overhaul has become the one policy every wonk in town can agree on.