Monday, December 19, 2016

Person Taxation: The Root of the Income Tax Mess

By James K. Jeanblanc

The income tax is in a horrible mess. It’s insanely complicated. It’s laden with tax-spending provisions undermining its revenue-raising purpose. The tax base is badly-eroded, forcing high tax rates which, in turn, impede economic growth. It’s a sadistic tax, punishing taxpayers with heavy compliance burdens. And, perhaps most damning, the system is terribly inefficient, costing the Treasury billions to administer and requiring a mid-sized city of IRS workers to run it.   There is no shortage of tax reform proposals. The common theme is to curtail the existing tax breaks, have fewer tax brackets, and reduce the top rates.......To Read More.....

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