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In our last issue, we commented that Fred Thompson had released the most detailed and conservative set of policy prescriptions on Social Security and immigration. He now has a detailed, conservative tax-reform proposal too, and there is a lot to like in it. He would abolish the Alternative Minimum Tax, make the Bush tax cuts permanent, and cut the corporate tax rate. He would let taxpayers opt out of the current tax code in favor of a new, simpler system with only two rates (10 percent and 25 percent). Our main reservation about Thompson's plan, modeled on a plan that conservatives in the House have introduced, concerns its treatment of children. Having children reduces ...