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In a perfect world we would bring corporate tax rates down to 25% or less so we can get competitive in the world economy. Ultimately, I would love to see a flat tax.

Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.

Tax reform likely will be the first policy action in a Trump administration. A close second will be a thorough repeal and rewrite of Obamacare, restoring a freer market with true consumer choice and competition among providers.

Let's bring in Donald Trump. He wants to lower taxes across the board for individuals and large and small businesses, significantly reduce burdensome regulations, and unleash America's energy resources.

A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.

Here's my thinking: Since tax reform only occurs once a generation, let's not tweak what we have and call it a day.

There is a need for financial reform along ethical lines that would produce in its turn an economic reform to benefit everyone. This would nevertheless require a courageous change of attitude on the part of political leaders.

We need comprehensive reform that will make America the best place in the world to invest and do business.

Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.