'Zero job' economy: 11 ways Washington can fix it

A stagnant job market has ramped up the pressure on President Obama and Congress to come up with solutions. What can be done? Here are 11 proposals.

2. Tax reform

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    Sen. Orrin Hatch (R) of Utah, moderator Douglas Holtz-Eakin, and Rep. Dave Camp (R) of Michigan discuss tax and entitlement reform at Utah Valley University in Orem, Utah, on Wednesday.
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Like regulatory reforms, this idea could provide its own boost for private-sector confidence. The goal would be to radically simplify the tax code, keeping rates low while eliminating most deductions and loopholes.

Proponents say the outcome could be a "positive shock" as both businesses and consumers gain optimism and certainty about the outlook for taxes. Lower business tax rates, for one, could lure more investment to the US rather than other nations.

A tax deal would probably need to be crafted within the new "supercommittee" that is starting to work on ideas to reduce future federal deficits.

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