In The New York Times, University of Chicago professor Richard Thaler proposes tax reform from the top down. He'd tax income exceeding $1 million – including dividends and capital gain – at 28 percent, with no deductions. He also proposes dropping the federal estate tax rate to 28 percent, although he would reduce the current exemption as well.
Could taxes really be reformed starting at the top? In the midst of a presidential election featuring a rich guy running against a richer guy, with billionaires throwing money around trying to influence the result, who can say what's possible?