By Michael J. Graetz

ISBN-10: 0300164572

ISBN-13: 9780300164572

To so much american citizens, the U.S. tax code has turn into an unlimited and confounding puzzle. In 1940, the directions to the shape 1040 have been approximately 4 pages lengthy. this day they've got ballooned to greater than 100 pages, and the shape itself includes greater than ten schedules and twenty worksheets. the full tax code totals approximately 2.8 million words—about 4 occasions the size of struggle and Peace. during this interesting publication, Michael Graetz continues that our tax code has develop into a tangle of loopholes, forms, and inconsistencies—a colossal social application that fails exams of simplicity and equity. extra vital, our tax method has didn't hold velocity with the altering economic system, growing burdens and wastes of assets that weigh our country down.

Graetz deals an answer. think a global within which so much american citizens pay no source of revenue tax in any respect, and people who do get pleasure from a much less complicated tax process—all this with out reducing govt sales or removal key incentives for employer-sponsored well-being care plans and pensions. As Graetz adeptly and obviously describes, this international is inside of our grab.

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Extra resources for 100 Million Unnecessary Returns: A Simple, Fair, and Competitive Tax Plan for the United States; With a New Introduction

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Some other congressional tax reform leaders fared a bit better: Democrat Dick Gephardt became House majority leader; his Senate counterpart Bill Bradley mounted an unsuccessful campaign for president; and Jack Kemp, the former Buffalo Bills quarterback and New York congressman and an outspoken advocate for low tax rates, secured the Republican nomination for vice president in Bob Dole’s unsuccessful 1996 campaign. But the kudos these politicians garnered hardly suggest that leading a tax reform effort is the path to national prominence.

A student convicted of a felony for possession or distribution of a controlled substance is ineligible for one of the education credits, but such a conviction is no bar to another one. 7 Relying, as we do, on income tax deductions and credits is about as successful a solution to our national needs as handing out more gunpowder at the Alamo. But lack of success does not curb our politicians’ enthusiasm. Congress would rather 14 Why We Need Tax Reform whine about the current income tax and use the IRS as its whipping boy than embrace realistic tax reforms that would make it harder to use its favorite plaything—the income tax— as an instrument of public policy.

Democrats cede the tax reform issue to the Republicans at their peril. They put at risk the very principles of tax justice they seek to protect. ” And when the income tax is the issue, the stakes are high. To achieve the kind of comprehensive reform our tax system clearly needs will require politicians from both parties to put the national interest ahead of the short-run advantage of any particular segment of their supporters. Yet as we shall see in the chapter that follows, the prospect for such statesmanship is dimmed by the ever-burgeoning ranks of special The Broken Politics of Taxation 33 interest groups and their highly organized and well-financed lobbying campaigns that often promise one thing to the public in order to achieve another for their backers.

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100 Million Unnecessary Returns: A Simple, Fair, and Competitive Tax Plan for the United States; With a New Introduction by Michael J. Graetz


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