Seglund, Ragnor
July 1985
FE: The Magazine for Financial Executives;Jul1985, Vol. 1 Issue 7, p10
Trade Publication
The article discusses various issues related to tax reforms in the United States. The article states that a tax law should only be for collection of taxes. All tax laws should be designed for the purpose of raising the required revenue for the specific government unit. Tax laws should not be used as an economic instrument of government policy. The need for such a reform can be visualized by summarizing just five of the major shortcomings of the present income tax regulations, which are: exorbitant collection costs, buried cost of subsidies, lack of equity, invasion of privacy, and encouragement of criminal activity.


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