Pechman, Joseph A.
April 1985
FE: The Magazine for Financial Executives;Apr1985, Vol. 1 Issue 4, p14
Trade Publication
The article focuses on issues related to tax reforms. The number of persons involved in tax legislation in the executive branch and in Congress is much larger, and the influence of tax lobbyists has increased. The opposition to the consumption tax comes mainly from those who believe that saving should not be exempt from taxation for reasons of equity. A major issue in the implementation of the consumption tax is the problem of untaxed accumulations of wealth. In recent years, Congress has been trying to do too much with the tax laws. Such provisions are not only inefficient and costly, but they also greatly complicate the U.S. Internal Revenue Code. The lack of simplicity contributes strongly to the decline in popularity of income taxes.


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