The classical goals of tax policy are equity, efficiency and simplicity. The greatest of these is usually the least attended to: simplicity. Judged as an end in itself, it may seem unimportant. One could hardly quarrel with a complicated code that managed to be both fair and efficient. The point is, complicated taxes are certain to be neither. Simplicity is the necessary condition for equitable enforcement and for avoiding myriad preferences and distortions. As a practical matter, therefore, simplicity needs to come first. In many countries, most notably in Britain and the US, it has lately come nowhere.

In his first speech on economic policy, Britain's new chancellor, Alistair Darling, asked to be judged on his success in simplifying taxes. This was a welcome undertaking until he spoiled it by adding that the government would "continue to simplify the tax system further wherever we can". Simplify it further? This is as though the Mafia pledged to continue deepening its commitment to the rule of law.