An overhaul of the federal tax system has been a frequently discussed topic on the heels of the debt super-committee and the beginning of the 2012 presidential campaign.

Today, members of the Salt Lake Chamber got some details on how that could work from Jim Gould (above, right) and Tucker Shumack of Capitol Counsel.

They pointed out the U.S. corporate tax rate is 35 percent, nine percent higher than the Organization for Economic Cooperation and Development (OECD) rate. This rate incentivizes businesses to set-up shop outside the U.S. By setting the rate too high, the U.S. costs itself any piece of the pie.

Another concern is too many Americans have become exempt from paying taxes. In 1985, 20 percent of Americans paid no income tax. By 2010, the number jumped to nearly 50 percent.

Gould shared his insight on the debt super-committee. He’s concerned that the eventual proposal will get an up or down vote on the House floor without going through the normal amendment process.

“Democrats don’t want to talk about spending cuts without discussing tax increases and republicans don’t wan to talk about tax increases,“ said Gould. “I don’t know how they bridge that gap.”

A number of business leaders expressed their concern about the upcoming debate over the super-committee’s proposal—particularly with the timing set for the holidays, a key time for the economy.

Shumack also dicussed the proposed American Jobs Act, the president’s proposal to create jobs. He says it is directly tied to the work of the super-committee

“Will the entire thing be passed as is? No way,” said Shumack. “But parts and pieces of it will get done. Whether they can get together on how to pay for it is another question.”

Containing rising health care costs was a major topic for the 57 business leaders who heard from Kerry Weems, senior vice president and general manager with Vangent, Inc. Mr. Weems has held a number of high-level positions in the Department of Health and Human Services.

“Half of the American workforce won’t pay income tax this year,” said Weems. “Dependency on government is at record levels. We have voted ourselves rich.”

Businesses are concerned with the uncertainty created by massive changes in the nation’s health care laws with many expecting health care costs to continue rising.

“It’s a roller coaster that only goes one way,” said Weems.

He says there are two ways to control health care costs:

First, stop purchasing health care “by the yard” with no linkage between what consumers receive from their provider and what they pay providers. And second, change the incentives. Under the current system, a patient has a very low stake in the value proposition.

“Having more skin in the game, makes a difference,” said Weems. “If we are paying, as individuals, our full co-payments and full premiums, that’s a game changer.”

Weems says we have “voted ourselves rich.” He says Americans demand the best health care but have voted for tax policy that doesn’t fund it.

The session concluded with Weems reading from a letter from his son who is serving in the Peace Corps and assigned to Armenia. In memorable commentary, the younger Weems reflected on the greatness of America. It was a poignant reminder to Utah business leaders of our ability as Americans to tackle complicated issues like health care.

A functioning immigration policy that supplies the workers the American economy needs would create jobs and boost the slumping economy.  That’s the message Utah business leaders heard today from a group of immigration policy experts. The panel discussion was part of the Chamber’s four-day visit to the nation’s capital in an effort to advance The Utah Jobs Agenda.

“If I’m an immigrant, I don’t like President Obama” said Chuck Kuck, a Georgia-based immigration attorney. “He has done more than any president to secure the border and our border has never been more secure. The question is, when will we allow ourselves to take advantage of the $40-50 billion of economic stimulus we would have each year by bringing people out of the shadows.”

E-Verify was a hot topic among business leaders. The interest is in the cost, both in money and time, as well as accuracy.

“If you are going to ask businesses to be immigration agents, that is going to have a bottom line, financial impact,” said Ali Noorani of the National Immigration Forum.

“The only way you can be certain your workers are legal is to have Congress pass immigration reform,” said Kuck.

The panelists expressed their admiration and appreciation for The Utah Compact, a document supported by the Salt Lake Chamber. They say it has changed the dialogue across the nation on the immigration issue.

“We need to create a new consensus on what immigrants mean to America,” said Noorani. “We are thrilled to be working with the Chamber and the Utah attorney general on this important issue.”