Taxes That Work: A Simple American Plan
dc.contributor.author | Graetz, Michael | |
dc.date | 2021-11-25T13:34:18.000 | |
dc.date.accessioned | 2021-11-26T11:36:15Z | |
dc.date.available | 2021-11-26T11:36:15Z | |
dc.date.issued | 2006-01-01T00:00:00-08:00 | |
dc.identifier | fss_papers/1571 | |
dc.identifier.citation | Michael J Graetz, Taxes That Work: A Simple American Plan, 58 FLA. L. REV. 1043 (2006). | |
dc.identifier.contextkey | 1758034 | |
dc.identifier.uri | http://hdl.handle.net/20.500.13051/809 | |
dc.description.abstract | In November 2005, the President's Advisory Panel on Tax Reform, appointed by President Bush to suggest options for reforming and simplifying the federal tax code, unanimously recommended two alternative plans: a "simplified income tax" (SIT) and a "growth and investment tax" (GIT). The two plans shared much in common. For example, both would: (1) Reduce the top marginal tax rate—to 33% under the SIT plan and 30% under GIT plan; (2) eliminate the alternative minimum tax (AMT); (3) replace the earned income tax credit (EITC) and refundable child credits with a "work credit"; (4) replace personal exemptions, the standard deduction, and child tax credits with a "family credit"; (5) eliminate all deductions for state and local taxes; (6) extend deductions for interest on home mortgages and charities to non-itemizers, but reduce deductible amounts; (7) cap the exclusion for employer-provided health insurance; and (8) expand and simplify tax-favored savings opportunities. In addition, the proposed SIT would eliminate tax on dividends distributed by U.S. corporations from U.S. earnings and would exempt 75% of capital gains on the sale of corporate stock; other dividends and capital gains would be taxed at standard rates. | |
dc.title | Taxes That Work: A Simple American Plan | |
dc.source.journaltitle | Faculty Scholarship Series | |
refterms.dateFOA | 2021-11-26T11:36:15Z | |
dc.identifier.legacycoverpage | https://digitalcommons.law.yale.edu/fss_papers/1571 | |
dc.identifier.legacyfulltext | https://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=2570&context=fss_papers&unstamped=1 |