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A taxing debate.(letters to the editor)(Letter to the Editor)
Ramesh Ponnuru's "The Perils of Tax Reform" (Dec. 13) argues that the administration is wise to ignore calls for bolder tax reform. I vigorously disagree. A May 1997 study completed by Dale Jorgenson, formerly chairman of the economics department at Harvard, concludes that on average 22 percent of what we spend represents the embedded cost of the current system. We are paying the income-tax costs, the payroll-tax costs, and the accountants and attorneys to avoid the tax costs of every one of the business entities that are involved in, say, the making of a loaf of bread.
The tax component in our price system makes our products less competitive in a global economy. Jobs are driven to nations where production is less burdened by a tax component. Our confiscatory tax system also chases capital into offshore financial centers. It is estimated that we currently have about $6 trillion off-shore. If we were to eliminate all taxes on capital and labor we would be the world's largest tax shelter. That money would be in the U.S. and jobs would necessarily follow.
We spend over $200 billion a year filling out IRS paperwork. Business leaders will tell you they spend a similar amount calculating the tax implications of a business decision. One noted economist told me that we lose 18 ...
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...percent, and non-profits 3 percent of the total. The authors urge members of the President's Advisory Panel on Federal Tax Reform to "address this growing compliance burden, and work to reduce it through tax simplification and reform."
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...paper examines the conjecture that tax reform recommendations are not as sensitive...are derived optimal tax rates. Tax reform recommendations for Ireland using the Ahmad-Stern model of indirect tax reform with different underlying consumer...
- Frontiers of Tax Reform.
- Magazine article from: National Tax Journal Kliesen, Kevin L. June 1, 1997 700+ words
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Is Tax Reform Dead? The recent passage of the Taxpayer...of the nation away from comprehensive tax reform. Bipartisanship clearly ruled in the...If this trend continues, fundamental tax reform would clearly be dead for at least the...
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- Magazine article from: National Tax Journal Bull, Nicholas Lindsey, Lawrence B. September 1, 1996 700+ words
...policy. We make two simple points about tax reform and central bank policymaking. (1) The central bank response to tax reform affects both the likely behavioral responses of economic agents to tax reform and the welfare implications of tax reform...
Source: HighBeam Research, A taxing debate.(letters to the editor)(Letter to the Editor)