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Under the U.S. Constitution, people are entitled to compensation when a government takes their property. This is known as a taking.
Governments should avoid enacting laws that are inconsistent with U.S. Supreme Court precedent on takings.
A variety of criteria should be used when evaluating proposals to stimulate the economy:
Relief packages for people facing hardships due to economic downturns should be temporary and well-targeted.
How to improve the tax code is the subject of much debate. Proponents of reform often call for increasing fairness and simplicity. But people define those concepts in different ways.
Any further efforts to address marriage penalties should be focused on two-earner couples and structured to avoid increasing marriage bonuses.
Policymakers use the tax system to raise revenue and to promote social policy goals. For example, tax breaks may be provided to encourage home ownership.
Policymakers should broaden the tax base by limiting tax preferences that do not efficiently achieve important policy goals.