Most new presidents announce that they will change the structure of the federal tax system, such as close loopholes, increase coverage, make sure everyone pays their fair share, and so on. Suppose you get the job of revising the current system.

a) Would you focus more on taxing income or taxing sales of goods and services?

b) Would your new tax system be more progressive or regressive?

c) If you opted to replace income taxes with sales taxes, can you think of ways to reduce the regressivity of the tax?