Education Has Been "Dumbed Down" in Tax Reform

2021 ◽  
Vol 22 (3) ◽  
Author(s):  
Melanie McCoskey ◽  
Doron Narotzki
Keyword(s):  
Middle Class ◽  
Federal Government ◽  
Tax Reform ◽  
College Education ◽  
Tax System ◽  
Elite Schools ◽  
Government Administration ◽  
Legislative Changes

With promises of “Make America Great Again” and tax reform for “middle-class” Americans, the current federal government administration has implied that the average American would become more prosperous under this tax system. It is no surprise that most middle-class Americans view a college education as a requirement for achieving a better life. However, under the TCJA, education has not fared well, and in reality, students from many low-and moderate-income families will face reduced scholarships from elite schools, thereby reducing diversity on these campuses. Other proposed changes to education in the original tax bill, which were later removed, are also addressed as future legislative changes may revisit them.

GST - Sway On Small Scale Industries

2019 ◽  
Vol 118 (10) ◽  
pp. 365-372
Author(s):  
Jayanti.G ◽  
Dr. V.Selvam
Keyword(s):  
State Government ◽  
Tax Reform ◽  
Small Scale ◽  
Tax Revenue ◽  
Tax System ◽  
Goods And Services ◽  
Single Tax ◽  
The People ◽  
Indirect Taxes ◽  
The Government

India being a democratic and republic country, has witnessed the biggest indirect tax reform after much exploration, GST bill roll out on 1 April 2017.  The concept of this reform is for a unified country-wide tax reform system.  Enterprises particularly SMEs are caught in a state of instability.  Several taxes such s excise, service tax etc., have been subsumed with a single tax structure. it is the responsibilities of both centre and state government to shoulder the important responsibility to cater the needs of the people and the nation as a whole.  The main basis of income to the government is through levy of taxes.  To meet the so called socio-economic needs and economic growth, taxes are considered as a main source of revenue for the government.  As per Wikipedia “A tax is a mandatory financial charge or some other type of levy imposed upon tax payer by the government in order to fund various public expenditure”   it is said that tax payment is mandatory, failure to pay such taxes will be punishable under the law.   The Indian tax system is classified as direct and indirect tax.   The indirect taxes are levied on purchase, sale, and manufacture of goods and provision of service.  The indirect tax on goods and services increases its price, this can lead to inflationary trend.  Contribution of indirect taxes to total tax revenue is more than 50% in India, therefore, indirect tax is considered as a major source of tax revenue for the government, which in turn is one of source for GDP growth.  Though indirect tax is a major source of revenue, it had lot of hassles.  To overcome the major issues of indirect tax system the government of India subsumed most of the indirect tax which in turn gave birth to the concept called Goods and Service Tax.

scholarly journals Is This Tax Reform, or Just Confusion?

2018 ◽  
Vol 32 (4) ◽  
pp. 73-96 ◽  
Author(s):  
Joel Slemrod
Keyword(s):  
United States ◽  
Tax Reform ◽  
The United States ◽  
The Political ◽  
Political Will ◽  
Tax Base ◽  
Tax System ◽  
The Law ◽  
Jobs Act ◽  
Tax Cuts

Based on the experience of recent decades, the United States apparently musters the political will to change its tax system comprehensively about every 30 years, so it seems especially important to get it right when the chance arises. Based on the strong public statements of economists opposing and supporting the Tax Cuts and Jobs Act of 2017, a causal observer might wonder whether this law was tax reform or mere confusion. In this paper, I address that question and, more importantly, offer an assessment of the Tax Cuts and Jobs Act. The law is clearly not “tax reform” as economists usually use that term: that is, it does not seek to broaden the tax base and reduce marginal rates in a roughly revenue-neutral manner. However, the law is not just a muddle. It seeks to address some widely acknowledged issues with corporate taxation, and takes some steps toward broadening the tax base, in part by reducing the incentive to itemize deductions.

Preferences, Tax Structure and Tax Reform: Theory and Evidence

1975 ◽  
Vol 3 (1) ◽  
pp. 56-69 ◽  
Author(s):  
Shlomo Maital
Keyword(s):  
Tax Reform ◽  
Tax Structure ◽  
Indirect Taxation ◽  
Tax System ◽  
The Past ◽  
Pure Public Good ◽  
Indirect Taxes ◽  
Current Shift ◽  
Optimal Tax Structure ◽  
The U.S

When the structure of tax revenues–the proportion of revenues earned by income, consumption and wealth taxes–is treated as a pure public good, a useful framework emerges for analyzing interrelationships among taxpayers' preferences, tax structure and tax reform. The “optimal” tax structure is defined and used to outline several conjectures about the current shift from direct to indirect taxation, evident particularly in Europe. Attention is then focused on the U.S. tax system. The structure of the tax system is shown to have changed very little in the past two decades. In contrast, interview surveys carried out over the past thirty years indicated a long-standing shift in taxpayers' preferences toward indirect taxes. Implications are drawn regarding tax reform.

scholarly journals The Inequity In The Current Tax System: Does The Alternative Minimum Tax Create Additional Problems In The System?

2011 ◽  
Vol 5 (2) ◽  
Author(s):  
Constance J. Crawford ◽  
Corinne L. Crawford
Keyword(s):  
Middle Class ◽  
Social Injustice ◽  
Font Size ◽  
Tax System ◽  
Middle Income ◽  
Symbolic Gesture

<p class="MsoNormal" style="text-align: justify; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-size: 10pt; mso-bidi-font-weight: bold;"><span style="font-family: Times New Roman;">Historically, the Alternative Minimum Tax was enacted to correct the inadequacies and deficiencies in the IRS tax code.<span style="mso-spacerun: yes;">&nbsp; </span>Today it creates unfairness.<span style="mso-spacerun: yes;">&nbsp; </span>The AMT is complex and has been recognized as the most serious problem faced by taxpayers.<span style="mso-spacerun: yes;">&nbsp; </span>Could this be a consequence of bi-partisan neglect?<span style="mso-spacerun: yes;">&nbsp; </span>The amount of AMT victims may double in 2006 as tax cut solutions expire.<span style="mso-spacerun: yes;">&nbsp; </span>AMT will become the de-facto tax liability for the middle income taxpayer.<span style="mso-spacerun: yes;">&nbsp; </span>AMT was not instituted for revenue generating purposes, but rather as a symbolic gesture denoting fairness.<span style="mso-spacerun: yes;">&nbsp; </span>Unfortunately, it has created a social injustice for the working middle class.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

REFORMA TRIBUTÁRIA E SEUS BENEFÍCIOS À SOCIEDADE

2021 ◽  
Vol 9 (207) ◽  
pp. 1-15
Author(s):  
Luana Mara Santos de Souza Nunes ◽  
Vanessa Macano Albino ◽  
Maiara Cerqueira da Silva Saisse dos Santos ◽  
Bianca Machado Torres
Keyword(s):  
Social Justice ◽  
Tax Reform ◽  
Tax System ◽  
Advantages And Disadvantages ◽  
Single Tax ◽  
The Face ◽  
National Tax ◽  
Real Correction

In the face of so many taxes that Brazilians are obliged to pay and several times taxes that are not understood by ninety percent of the population, much is said about a tax reform that promises to transform many taxes into a single tax that will be collected throughout the country. country, therefore, simplifying the lives of thousands of Brazilians and companies that suffer from the collection of so many taxes. But will a change in the National Tax Code really bring benefits to society and companies? What will be its advantages and disadvantages in the face of the economic scenario we are experiencing today? It is also worth remembering that a real correction of existing distortions is necessary for the principles of equity and social justice to act. These are the questions proposed for reflection in this work, when dealing with the Brazilian tax system and its much-promised reform that aims to make it easier to understand what we really pay for our purchases and services.

Tax Expenditures and the Tax Reform Act of 1969 in the United States

2022 ◽  
pp. 1-26
Author(s):  
Seiichiro Mozumi
Keyword(s):  
United States ◽  
Income Tax ◽  
Public Perception ◽  
Tax Reform ◽  
The United States ◽  
Tax Revenue ◽  
Tax System ◽  
Federal Income Tax ◽  
Federal Taxation ◽  
The Government

Abstract In the United States, tax favoritism—an approach that has weakened the extractive capacity of the federal government by providing tax loopholes and preferences for taxpayers—has remained since the 1930s. It has consumed the amount of tax revenue the government can spend and therefore weakened the possibility of the redistribution of fiscal resources. It has also made the federal tax system complicated and inequitable, resulting in undermining taxpayer consent. Therefore, since the 1930s, a tax reform to create a simple, fair, and equitable federal income tax system with the capacity to raise revenue has been long overdue. Many scholars have evaluated the Tax Reform Act of 1969 (TRA69), which Richard M. Nixon signed into law on December 30, 1969, as one of the most successful steps toward accomplishing this goal. This article demonstrates that TRA69 left tax favoritism in the United States. Furthermore, it points out that TRA69 turned taxpayers against the idea of federal taxation, a shift in public perception that greatly impacted tax reform in the years to follow.

Tax Abuse and Implications for Human Rights in Africa

2019 ◽  
pp. 189-208
Author(s):  
Annet Wanyana Oguttu ◽  
Monica Iyer
Keyword(s):  
Human Rights ◽  
Multinational Enterprises ◽  
Tax Reform ◽  
Tax Avoidance ◽  
International Taxation ◽  
Fair Share ◽  
Profit Shifting ◽  
African Countries ◽  
Tax System ◽  
Development Goals

This chapter analyzes whether the international tax reform measures instituted under the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Project are effective in ensuring African countries get a fair share of taxes from multinational enterprises (MNEs) transacting within their borders, so that they can finance their development goals and promote the human rights of their citizens. The OECD chose to focus on curtailing sophisticated tax-avoidance schemes by strengthening existing anti-avoidance provisions. MNEs have abused these existing laws, however, making them largely ineffective. Given that MNEs are always a step ahead in devising new tax-avoidance strategies, one wonders whether emphasis on strengthening anti-avoidance laws will achieve much. The OECD seems to have missed an opportunity to evaluate the whole tax system and deal with the very root of the problems inherent in international taxation.

TAX REFORM IN THE OIL INDUSTRY

2002 ◽  
Vol 42 (1) ◽  
pp. 639
Author(s):  
M. Williamson
Keyword(s):  
Federal Government ◽  
Tax Reform ◽  
Prime Minister ◽  
Oil Industry ◽  
Project Development ◽  
New Developments ◽  
Business Executive ◽  
Tax Legislation ◽  
John Howard

Following the return of the Liberal National Country Party for its second term of office under the Prime Minister, Mr John Howard, the Federal Government established a committee headed by a business executive Mr John Ralph. This Committee produced an extensive report recommending substantial changes to the Australian tax legislation. Following consideration of the report by the Federal Government, substantial amendments were proposed in September and November 1999. Many of these proposals have now been legislated and several remain in the pipeline awaiting Parliament scrutiny.This paper covers the practical aspects of the changes to the tax legislation, along with examination of particular issues associated with new developments in matters such as gas banking. Particular focus has been made on the new Uniform Capital Allowances Provisions and the deductions which will be available to the industry against upstream project development expenditures.

scholarly journals The Structure of the Tax System Versus the Level of Taxation: An Evaluation of the 1986 Act

1992 ◽  
Vol 6 (1) ◽  
pp. 59-68 ◽  
Author(s):  
J. Gregory Ballentine
Keyword(s):  
Tax Policy ◽  
Income Tax ◽  
Tax Reform ◽  
High Income ◽  
Tax Structure ◽  
Corporate Tax ◽  
Policy Goal ◽  
Tax System ◽  
System Versus ◽  
The Future

In this paper, I assess the 1986 Tax Reform Act relative to the tax system that might have evolved over the several years following 1986 had that particular tax reform not been enacted. Had tax reform not been enacted, I believe that the pattern of steady tax increases, particularly corporate tax increases and tax increases on high-income individuals such as occurred in the 1982 and 1984 tax acts would have continued. I also believe that the 1986 Tax Reform Act introduced an income tax system that will be quite stable; broad changes, in particular changes that raise a large amount of income tax revenues, are unlikely for many years. So I am comparing the tax structure of the 1986 Tax Reform Act to a system that, in part, has an inferior structure, but that provides more revenues. Since I believe that the most important tax policy goal in 1986 and later should have been to raise revenues, not to revise the structure of the tax system, I believe that the 1986 Tax Reform Act was harmful. Tax reform not only did not raise revenues, it has made it more difficult to raise revenues in the future, without providing significant offsetting benefits.

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