But obviously, a maximum rate of 25% would generate significantly less grosstaxrevenue than the current system, which contains a top rate of 39.6% (actually, over 44% when factoring in Obamacare and the repeal of the PEASE limitation on itemized deductions).
What if, instead, Congress and the President agreed that the new reformed tax code should raise xx percent of Gross Domestic Product in revenue in 2022?
Unlike the 1986 plan, which was designed to neither raise nor reduce overall taxrevenue, this proposal specifically aims to increase taxes to 21 percent of Gross Domestic Product by 2022.