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Essay / Research Paper Abstract
This 4-page paper focuses on taxes in the U.S. and proposed reform. The paper examines the concepts of flat and progressive taxes, and determines their advantages and disadvantages. Bibliography lists 2 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTustaxe.rtf
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Unformatted sample text from the term paper:
income tax system in the US should be reformed? Why or why not? There is little doubt that the current income
tax system is in dire need of reform. Even Democratic and Republics agree on this fact - the current tax code is way out of hand. Its complicated, and difficult
to understand. Its cumbersome, with few people being able to figure it out. Too much stress is spent on dealing with taxes, what is deductible and what isnt. Its been
estimated that because of the current tax system, American citizens pay as much as 33 percent or more in cumulative taxes (based on income brackets, exemptions and so on) (Taxreform.com,
2000). Some people end up paying more, with the national average being somewhere around 22 percent (Taxreform.com, 2000). If that werent enough,
the current tax system is costly. According to Fortune Magazine, the cost of complying with the tax system, as it currently is ends up being nearly 50 percent of what
the IRS actually collects in taxes (Taxreform.com, 2000). This is a definite waste of money and resources. While almost everyone agrees that
a new system is necessary, its been difficult to get people to agree on what, exactly, that system should be. There have been proposals for both flat taxes and progressive
tax systems, with both having their advantages and disadvantages. 2. Whats so great about a flat tax system? Whats wrong with a flat tax system?
Though hes no longer in office, during the 1990s, House Majority Leader Dick Armey proposed a 17 percent flat tax on all income; and this is
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