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100 Million Unnecessary ReturnsA Simple, Fair, and Competitive Tax Plan for the United States$
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Michael J. Graetz

Print publication date: 2008

Print ISBN-13: 9780300122749

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300122749.001.0001

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The Case for Fundamental Reform

The Case for Fundamental Reform

Chapter:
(p.3) I The Case for Fundamental Reform
Source:
100 Million Unnecessary Returns
Author(s):

Michael J. Graetz

Publisher:
Yale University Press
DOI:10.12987/yale/9780300122749.003.0001

This chapter discusses the need for fundamental tax reforms in the United States. It argues that except in extraordinary circumstances, the minimal requirement for a tax system should be that it raises sufficient revenue to pay for government expenditures. A good tax system should do so fairly, keeping its costs of compliance and administration as low as feasible, and finally, should promote freedom by interfering minimally with private decision making. The chapter argues that the tax system of the United States fails on every count. It also argues that the time for fundamental reform has come, and that if the U.S. government does not solve the problem of a grossly inefficient system of raising revenue, all the other challenges it faces will eventually be overwhelmed by one overarching reality, which is of having too little money and lacking the means to raise it without damaging the economy.

Keywords:   tax reforms, tax system, administration, decision-making, revenues, economy

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