Professor Michael J. Graetz and two other leading tax scholars met this past fall for a panel discussion hosted by the Richard Paul Richman Center for Business, Law, and Public Policy. The participants discussed various ideas for altering the U.S. tax code to advance the nation’s best interests. “The status quo is not possible,” said Graetz. “Haircuts on taxes won’t do enough. We have to do something big.” Visiting faculty member Mihir Desai and Andrew Stern, a senior fellow at the Richman Center, joined Graetz on the panel. Suggestions for increasing revenue and combating the national debt ranged from a tax on carbon dioxide emissions to enacting a national value-added tax.