I was delighted to finally see Don Conlan's lone voice questioning tax reform ("Is Tax Reform Really Necessary?" July 29).
Conlan raises important questions that need to be considered very seriously. The thrust of his concern with the tax bill relates to the stimulus to consumption and the inhibition to new capital formation that the shifting of taxes from individuals to corporations will induce.
It is true that in the end corporations must shift the tax to individuals. However, during an interim period there will be an impulse for more consumer spending and less capital spending. Do we need this?
Our lack of competitiveness in world markets demands, among other things, a huge infusion of new capital. The so-called tax reform induces just the opposite effect. Furthermore, a great deal of the new capital needed is for modernization of our infrastructure--the social overhead capital that is a precondition for profitable private investment.