Its marginal rates are high: American companies pay some of the steepest in the world.
The key to 9-9-9 is that marginal rates on income will drop, encouraging work, investment, and growth.
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He points to his own actions, back in the 1950s, when marginal rates on dividends reached 91%.
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Mr Romney talks about "fairness" and "bringing down" marginal rates, but not about eliminating the principle.
Ideally, we would limit marginal rates, but this is not practical in a simple backstop like the AMaxT.
Is it really that difficult to imagine the economic carnage that would follow from raising their marginal rates?
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During that period the income tax was very high marginal rates and holes you could drive a truck through.
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If that momentum is sustained we could move significantly toward lower marginal rates.
In effect, the college funding system acts as a supplemental income tax, with marginal rates ranging up to 47%.
Forget, for a moment, whether marginal rates are too high or too low.
Marginal rates are particularly important because they affect decisions to work and invest.
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Supply-side tax cuts occur at the marginal rates of the income tax, whereas Keynesian tax cuts occur before those rates.
For now the tax picture, as was reflected in our annual Misery Index of combined top marginal rates, has darkened.
With progressive rates, additional dollars are subjected to higher marginal rates even though the first dollars qualify for lower rates.
Back then, top marginal rates of 70-80% were not uncommon, and tax laws everywhere were riddled with decades-worth of accumulated deductions.
Good money and lower marginal rates put America on course to drive its key stock market index from 1, 000 to 14, 000.
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By cutting marginal rates of tax, the resulting economic dynamism would generate the additional revenues needed to pay for it all.
Given the consistency of tax receipts as a percentage of GDP, growth obviously supersedes marginal rates as the driver of tax revenue.
When Presidents Kennedy and Reagan reduced the top marginal rates, it spurred growth and the upper income people felt better about fairness.
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So can rational tax policy: keeping marginal rates on corporate profits, individual income and investment gains low to encourage hiring and capital deployment.
The trilemma holds that an income tax cannot simultaneously maintain progressive marginal rates, impose equal taxes on equal-earning couples, and insist on marriage neutrality.
Limits on itemized deductions for high earners have also been reinstated, which will raise many athletes' marginal rates by one to two percentage points.
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Even though some of this would have to go in lowering marginal rates, it is a little like finding money behind the sofa cushions.
According to the nearby table compiled by the Heritage Foundation, taxpayers in at least five U.S. states would pay higher marginal rates even than Sweden.
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Sweden has cut benefits and marginal rates of income tax, and Denmark is in the midst of a four-year programme to cut top tax rates.
Mrs (now Lady) Thatcher and Reagan slashed top rates and eliminated many deductions, creating tax codes with lower marginal rates on a much broader tax base.
Broadening the personal income-tax base by closing loopholes will generate substantial additional revenue while minimizing increases in marginal rates that could stifle risk-taking and robust growth.
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Just to put all this in perspective: Even while such tax-code craziness and complexity is at an alltime high, marginal rates are at near historic lows.
Maybe that means increasing capital gains taxes, maybe marginal rates.
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It's complex because it's difficult to measure our taxable income and that is a problem regardless of whether or not you use progressive marginal rates or a single flat rate.
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