Hatrack River Forum: The Bipartisan Tax Plan

This is topic The Bipartisan Tax Plan in forum Books, Films, Food and Culture at Hatrack River Forum.

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Posted by Dagonee (Member # 5818) on :

Here's an article on the recently released bipartisan tax reform proposal.

It's a one-sided article (in favor), but I haven't seen as conise a summary about what it does yet.

I haven't formed an opinion on it yet. I like that it preserves vertical progressiveness and enhances horizontal equity, because I think too often structural aspects of the tax code are used to obscure fairness attributes of the tax code and vice versa - by both parties.

This commission looked at only one aspect of the income tax: structure. Once we have a structure that's potentially comprehendable, we can actually debate issues such as progressivity.

Too often the debate focuses on one individual tax or deduction. Here's a chance to focus on the whole darn thing.

I'm skeptical it will go far, but I hope it at least leads to meaningful debate.

Posted by Farmgirl (Member # 5567) on :

Hmm... is there anywhere online you can actually READ the 271-page report? I mean, in case you can't sleep or whatever?

FG

Posted by Dagonee (Member # 5818) on :

Link to the report.

Posted by Blayne Bradley (Member # 8565) on :

Dag.... I don't think my brain can quite process what you said and I even took into to law in high school...

Posted by fugu13 (Member # 2859) on :

This is more economics. Basic economics.

Posted by quidscribis (Member # 5124) on :

I slept through economics. And then crammed the night before the final. And still got a decent grade (86%). But I still don't understand it. [Dont Know]

Posted by Irami Osei-Frimpong (Member # 2229) on :

From the article:

quote:
The whole idea behind tax reform is getting the government out of the business of encouraging or discouraging any activity, however worthwhile.

I don't know if that's true.

quote:
Just as important, however, is "horizontal" equity: Does the code impose roughly similar tax burdens on people with similar incomes? In this respect, the current system is far from ideal. Because of all the deductions and credits in the current code, taxes paid have as much to do with how you earn, spend and invest your money as with how much you earn.

And I think that distinctions concerning how you earn your money should be made. Overall, the plan sounds like it would bring us back to basics, but I've always thought that there was a reason that we rejiggered the basics, namely, to give incentives for certain type of work, make distinctions, and encourage fledging businesses.