Reforming US Tax Code

Reforming the U.S. tax code

 

Reforming the U.S. tax code to eliminate tax credits and loopholes has been a frequent topic of discussion. Some political opponents argue that the law is too complex and the tax structure should be simplified. In a recent article taken from the Washington Post, the U.S. Senate's chief tax writers propose scraping the entire code and starting from scratch in their push for tax reform. The article further states that new tax provisions should (1) help grow the economy, (2) make the tax code fairer, and (3) effectively promote other important policy objectives. These objectives coincide with the goals of National Commission on Fiscal Responsibility and Reform appointed by President Obama to address the U.S.'s fiscal challenges. Research at least four (4) recent articles, within the last three (3) years, related to this issue.

 

Write a four to five (4-5) page paper in which you:

 

1.Take a position on whether or not a flat tax would be beneficial to all Americans. Provide support for your rationale.

 

2.Discuss the primary pros and cons of imposing lower tax rates on lower income earners and higher taxes on the higher income earners. Provide support for your rationale.

 

3.Based upon the support you provided in Question 2, evaluate the impact that each of the options you discussed would have on the federal deficit, and make your recommendation as to which option you favor. Provide a rationale for your response.

 

4.Evaluate at least two (2)  of the major effects that an overhaul of the tax code would have on CPAs and other paid tax preparers, recommending a strategy to minimize the impact of the overhaul. Provide specific examples.

 

5.Determine which option would personally impact you and whether you are in favor of the flat tax or a progressive tax structure. Provide support for your rationale.

 

6.Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

 

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Submitted by pkwringleyson Wed, 2014-06-04 14:46
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Reforming the US tax code

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xxxxxxx Head: xxxxxxxxx xxx xx TAX CODE x

REFORMING xxx xx TAX xxxx 7

xxxxxxxxx xxx xx Tax xxxx

Name

Course

College

xxxxx

Date

xxxxxxxxxxxx

xxxxxx xxx reform debates in US xxx lead to xxxxxxxxx xxxxxxx over xxx adopting x flat tax system. x flat xxx xxxxxx is x system that applies xxx xxxx xxx xxxx xx xxxx xxx every xxxxxxxx without considering the xxxxxx of income xxx xxxxxxxx xxxxxx xxxx a xxxxxxx xx xxxxxxxxx in xxx xxxxx xxx xxxx xxx system and xxx xxxxxx xxx initially xxxxxxxxxxx in Estonia, which is xx xxxxxx xxxxxxxx I xxxxx xxxx the xxxxxxxxxx of xxxx xxx in xxxx xxx the Americans would xxxxxxx xxxx it, if xxxxxxxxxxx in our xxxxxxxx First, xxxx xxx xx the most xxxx xxx xxxxxxx xx xxx world xxxxx all xxx xxxxxxxxx xxxxx xxx same government resources xxx xxxxx is no xxxxxxxx who is xxxxx preferential

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    • Assignment 1: Reforming the U.S. Tax Code

      Reforming the U.S. tax code to eliminate tax credits and loopholes has been a frequent topic of discussion. Some political opponents argue that the law is too …

    • Assignment 1: Reforming the U.S. Tax Code

      Reforming the U.S. tax code to eliminate tax credits and loopholes has been a frequent topic of discussion. Some political opponents argue that the law …

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      Assignment 28

      Assignment : Reforming the U.S. Tax Code

      Due Week 7 and worth 280 points

      Reforming the U.S. tax code to eliminate tax credits and loopholes has been a frequent topic of discussion. Some …