By improving work and investment incentives and eliminating the double taxation of business income, we estimate the reform would boost long-run GDP by 2.3 percent, grow wages by 1.3 percent, and add 1.3 million full-time equivalent jobs. taxpayers more than $100 billion annually. …A distributed profits tax of 20 percent… Elimination of taxes at death and simplified treatment of capital gains.īy simplifying the federal tax code, the reform would substantially reduce compliance costs, potentially saving U.S. tax code… The reforms include: A flat tax of 20 percent on individual income combined with a generous family allowance to protect low-income households. …Drawing on the Estonian experience and building on ideas from our initial study on reform options, we present here a plan for reforming the U.S. A particularly compelling example is Estonia’s tax system, where taxes are so simple they are typically filed online in about five minutes. Other countries have proven that sufficient tax revenue can be collected in a less frustrating and more efficient manner.
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