Finance committee  Yes, well, I guess not all economists think exactly the same, although we do have large areas of agreement. I think the reason that the majority of economists reacted by saying that it would have been better to have PIT and CIT cuts is that they're thinking about the impact of the top marginal rates on the people who are not operating in a consumption tax system within the PIT.

Finance committee  Well, I'd like to give them the right incentives for saving and investment.

Finance committee  Thanks very much. Like John, I'm very pleased to be here. I think it's very important work that your committee is embarking on, and I wish you well in this enterprise. My goal today is just to talk about some important areas in the federal tax system that I think still require attention.