By Michael J. Graetz
To such a lot american citizens, the U.S. tax code has develop into an unlimited and confounding puzzle. In 1940, the directions to the shape 1040 have been approximately 4 pages lengthy. this present day they've got ballooned to greater than 100 pages, and the shape itself comprises greater than ten schedules and twenty worksheets. the total tax code totals approximately 2.8 million words—about 4 occasions the size of struggle and Peace. during this fascinating e-book, Michael Graetz keeps that our tax code has turn into a tangle of loopholes, forms, and inconsistencies—a titanic social application that fails checks of simplicity and equity. extra vital, our tax procedure has didn't preserve velocity with the altering financial system, developing burdens and wastes of assets that weigh our country down.
Graetz deals an answer. think an international during which so much americans pay no source of revenue tax in any respect, and those that do take pleasure in a miles easier tax process—all this with out reducing executive sales or elimination key incentives for employer-sponsored wellbeing and fitness care plans and pensions. As Graetz adeptly and obviously describes, this global is inside our take hold of.
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Extra info for 100 Million Unnecessary Returns: A Simple, Fair, and Competitive Tax Plan for the United States; With a New Introduction
The Atlanta Journal-Constitution likened the event to the Boston Tea Party but said that this “modern mob” must have made a lot more noise. Naysayers may claim that the crowd came just to gawk at celebrities, most notably Fox’s Sean Hannity, ABC’s John Stossel, and the local radio talk show host Neal Boortz, but they would be badly mistaken. Republican candidates and elected oﬃcials have been nurturing anti–income tax sentiment for decades. They now have many thousands of avid supporters. Nearly a decade before this Georgia rally, Congressmen Dick Armey (R-TX) and Billy Tauzin (R-LA), now both retired from Congress, held a “Scrap the Code” road show, traveling the country to debate whether the income tax should be replaced with a national sales tax or a ﬂat tax.
5 Another technique for understating the actual cost of tax cuts has come to the fore since 2001. This is the use of “sunsets,” which terminate tax cuts unless Congress acts to extend them. In 2001, because of the Senate’s procedures, it was necessary to sunset the entire legislation in 2010 in order to get it through the Senate with fewer than sixty votes—more votes than the bill’s supporters could muster. The 2003 cuts in dividend and capital gains rates also expire in 2010 for a similar reason.
Nearly a decade before this Georgia rally, Congressmen Dick Armey (R-TX) and Billy Tauzin (R-LA), now both retired from Congress, held a “Scrap the Code” road show, traveling the country to debate whether the income tax should be replaced with a national sales tax or a ﬂat tax. In October 1997, side by side with Georgia’s Speaker of the House Newt Gingrich, Armey and Tauzin drew nearly two thousand people to the Cobb County Galleria Ballroom. ” Armey and Tauzin announced their Scrap the Code tour the same week that Senator William Roth (R-DE), chairman of the Senate Finance Committee, held dramatic hearings on alleged IRS abuses.
100 Million Unnecessary Returns: A Simple, Fair, and Competitive Tax Plan for the United States; With a New Introduction by Michael J. Graetz