Get 100 Million Unnecessary Returns: A Simple, Fair, and PDF

By Michael J. Graetz

ISBN-10: 0300164572

ISBN-13: 9780300164572

To so much american citizens, the USA tax code has develop into an unlimited and confounding puzzle. In 1940, the directions to the shape 1040 have been approximately 4 pages lengthy. at the present time they've got ballooned to greater than 100 pages, and the shape itself includes greater than ten schedules and twenty worksheets. the whole tax code totals approximately 2.8 million words—about 4 instances the size of battle and Peace. during this fascinating publication, Michael Graetz keeps that our tax code has develop into a tangle of loopholes, forms, and inconsistencies—a significant social software that fails checks of simplicity and equity. extra vital, our tax approach has didn't hold speed with the altering economic climate, developing burdens and wastes of assets that weigh our state down.

Graetz bargains an answer. think a global during which such a lot americans pay no source of revenue tax in any respect, and those that do take pleasure in a much less complicated tax process—all this with no reducing executive sales or removal key incentives for employer-sponsored well-being care plans and pensions. As Graetz adeptly and obviously describes, this international is inside our snatch.

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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

Example text

But to little avail. The IRS remains the villain. Americans, by a 51 to 34 percent majority, would rather have a root canal than an IRS audit. Over the past fifteen to twenty years, conservative Republicans and allied industry groups have proven remarkably effective at organizing this resentment and linking it to their tax reform agendas. Republicans commonly and quite deliberately mislabel the nation’s tax law the “IRS Code,” as if the Of Pleaders, Zealots, and the Rest of Us 39 Congress is no more than a bystander in producing it—rather than its author.

Wrong choice about whether to itemize or take the standard deduction. And while these people overpay because of the complexity, far more pay too little—many deliberately. The IRS estimates that taxes are underpaid by about $300 billion every year, which requires honest taxpayers to pay more than $2,000 each to make up the loss. In addition to these losses, the incentives in today’s tax law for unproductive expenditures, coupled with the efforts of individuals and businesses to structure their affairs in a taxfavorable fashion, are estimated to cost our economy a further $1 trillion a year.

The fact that tax cuts have failed to curb government spending has not, however, dampened the enthusiasm of the “starve the beast” crowd for tax cuts. 4 The idea then was to be relentlessly optimistic when forecasting key economic variables, routinely overestimating economic growth and other key economic predictions such as total wages or corporate profits that determine the size of total government spending and revenues. This provides an apparent rise in revenues without the need to raise taxes.

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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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