Taxation and Tax Policy Issues

Taxation and Tax Policy Issues

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In 2005, Americans paid about $2.1 trillion in combined federal taxes, including income, payroll, and excise taxes, or about 16.8 percent of the Gross Domestic Product (GDP). These taxes fund the services provided by government. As taxpayers, we balance the costs of taxes with the benefits of government. The goal of tax policy is to design a tax system that produces the desired amount of revenue and balances the minimisation of compliance and efficiency costs with other objectives, such as equity, transparency, and administrability. This book examines the detail which is where vested interests do their damage.Evidence suggests that most of these estates could still pay the estate tax out of liquid assets alone (cash, bonds, and publicly traded stock) under pre-2001 law, and thus would not have to cash in any other property (such as a home or otheranbsp;...

Title:Taxation and Tax Policy Issues
Author:Brian L. Yoshov
Publisher:Nova Publishers - 2007


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