I've always had reservations about this and now I can see several reasons why.
My main objection was that I think this would create havoc in the economy. Why mess with it now?
It sounds like in effect it would be a net tax increase when you add in things like services and state, local and business spending.
Also, a 30% tax rate is way high enough to give merit to the rampant evasion theory. From reading this article 30% now seems too high.
Also, the rate purposed is %23, not %30.
"My main objection was that I think this would create havoc in the economy. Why mess with it now?"
LOL. Why indeed? The trade deficit is now in excess of $600 billion/year and headed toward a trillion $$. Social security faces a huge solvency problem that no one seems to have an answer for. The complexity and compliance costs of the current system get bigger and bigger each year. Other than that, there's no reason to consider doing anything with our current tax system.
Here is what the President's Tax Panel is hearing from the public.
http://www.schwab.com/public/schwab/market_insight/todays_market/recent_commentary/death_and_taxes_an_update_on_tax_reform.html?cmsid=P-776677&lvl1=market_insight&lvl2=todays_market&refid=P-435503&refpid=P-435505
Oh! I almost forgot the AMT and the low savings rate as major economic problems that are tax related.