Search

Reports on the types of tax reform systems being pushed for public and congressional support in the United States. Replacement of the entire tax code with a single low-rate flat tax; National sales tax system proposed by Senator Richard Lugar; Rewriting of the tax code suggested by Senate Majority Leader Bob Dole. INSET: America's Dueling Tax Plans.

The article focuses on the introduction of a flat rate income tax in the Netherlands to yield a better-functioning labor market and administrative cost for employers. It discusses the implementation of the flat rate in European countries especially in Eastern Europe and presents the literature of a flat tax rate in the region. It explores the flat rate, tax and social security system of the Dutch and compare them with Europe's. It also tackles the areas' problems with their income tax system.

The article discusses efforts by Prime Minister Viktor Orbán of Hungary to improve his nation's economy. Among Orbán's initiatives has been the imposition of a flat tax on personal income, the elimination or reduction of various levies on small businesses, the elimination of taxes on charitable donations, and wage cuts for government workers.

Provides information on the statement submitted to the U.S. Senate Finance Committee during its August 7 and 9, 1984 hearings, by Albert Ellentuck, chairman of the executive committee of the federal taxation division of the American Institute of Certified Public Accountants, in which he made recommendations for the Institute and argued against the flat tax. Comment on public perceptions and congressional reaction to the pressure for change; View that constant changes of the tax law disconcert all taxpayers; Discussion on the proposed flat tax legislation; Challenge to the assertion that passage of the flat tax would cause the underground economy to emerge and face taxation and regulation.

Focuses on the reaction of opponents to the proposal made by U.S. House Majority Leader Dick Armey on flat taxation. Statement that spenders like the flat tax about as much as veteran politicians do term limits; Claim of the tax-and-spend advocacy group Citizens for Tax Justice that the Armey plan would swell the deficit anywhere from $120 billion to $320 billion.

States that Democratic presidential candidate Jerry Brown is proposing a true tax-simplification plan: a flat tax of 13 percent on all income, with deductions for charity and for mortgage interest payments and rents. Brown has crafted the most novel, intriguing, sensible tax proposal.

Comments on the flax-tax proposals by American politician, Steve Forbes citing its possible effects on economic activity in the United States. Reduction of the tax burden of the wealthy; Impact of flat tax; Negative effects of eliminating home mortgage deductions; Details of the different plans for tax reform; Advocation of a progressive, lower-rate income tax with a few deductions. INSET: Competing blueprints for a tax revolution.

The article analyzes the domestic economic policies of President George W. Bush. President Bush has made it clear that he wants a thorough overhaul of both Social Security and the federal income tax code. The President shouldn't settle for half measures. His first-term commission on Social Security recommended that workers, if they so chose, could put up to 2% of their Social Security taxes into personal accounts. Critics carp that we would have to float bonds to help pay Social Security beneficiaries during the long transition to a more private system. So what? These bonds won't increase the real national debt. Obviously these personal accounts would have numerous safeguards, including major diversification. And individuals who didn't wish to take stock market risks could have all their monies go into government bonds and/or government-insured bank CDs. The President should be just as bold with our corruptly complex tax code. Replace it with a flat tax, which would also be a tax cut. Such radical initiatives could rightly win this President an exaltedly high historical place among his presidential peers.

The author comments on the corporate tax bill, the American Jobs Creation Act of 2004. It's a wholesale rejection of the kind of straightforward tax code both political parties say they want. Congress used the opportunity to dole out corporate tax breaks for 200,000 "manufacturers"--a term folded, spindled, and mutilated to include coffee roasting, movies, shopping malls, and NASCAR. The problem is not that the 600-odd-page act (with 600 more pages of explanations) is an unwieldy aberration. In America's swollen tax code there is nary an industry, an interest, or a hope that doesn't have a tax break aimed at it. It might not be possible to find an American who opposes the idea of a simpler tax code, but you can bet that when farm-state Senators went home after that vote, no one took them to task for getting more ethanol subsidies. Railroad executives would no doubt prefer a simpler code too, but there wasn't a peep from them about the weird little tax credit they got for maintaining their tracks. Polls routinely show that Americans favor a simpler code. But simplicity's appeal is abstract. Complexity, in the form of tax breaks for all, is adored in real life. To go really simple--a flat tax, for example, or a national consumption tax--would require losing much-loved deductions, such as those for mortgage interest and child care. Faced with such choices, enthusiasm for simplicity shrinks.

Reports that Senator Robert Packwood (R-Ore.) feels the flat income tax proposal will win out over the national sales tax proposal. How the flat tax proposal avoids many of the problems of a national sales tax; The simplicity of a flat income tax; Comments from Packwood.

Focuses on the competing congressional proposals to replace the progressive income tax. The national sales tax proposed by Representative Bill Archer (R-Tex.); The flat income tax proposed by House Majority Leader Richard Armey (R-Tex.); How both proposals got a boost at a Hoover Institution conference on tax reform; Economic arguments in favor of both proposals.

Editorial. Focuses on the flat-rate income tax system proposed by US Representative Richard K. Armey. Simplification of the tax code; House Ways and Means Chairman Bill Archer's favored national sales tax; Advantages of a modified flat tax system; Allowances for deductions for mortgage interest to stand; Economic neutrality of the flat tax.

The article discusses implications of changes in tax law in Oman on companies in the country in 2016. Particular focus is given to the agreement by the country's state council with the corporate flat tax rate under the law to remove a certain among of tax-free threshold in an effort to offset the increasing national budget deficit of the nation.

The article discusses the implication of the proposal of Ontario Progressive Conservative (PC) leadership candidate Christine Elliott to implement an 8% flat tax in Ontario. It states that the implementation of this tax proposal would help improve Canada's economy. It also notes that this proposal, which is an integrated approach to taxation, would help revolutionize the country's tax system.

Discusses the steady increase in income tax collections through bracket-creep in Australia. How an increase in salary can push a taxpayer into another tax bracket; Three ways to negate bracket-creep including adopting a flat-rate tax; Readjusting income tax brackets; Need for an amendment of the income tax legislation.

Discusses broad-based state income taxes, state sales taxes on Internet transactions, and the need for flat taxes. Inaccuracies in the tax reform proposals of the National Taxpayers Union; Silence of the Chamber of Commerce and the National Federation of Independent Business on Internet sales taxes; Arguments against a progressive tax system.

The author opines that the flat rate income tax reform implemented would be beneficial for people of Iowa, due to the simplicity aspect and for the low tax rate. It is observed as a economic stimulus plan, the legislation aims to keep more money in the hands of the ones who earned it. It is argued that a discounted income tax rate will attract more shoppers in the stores.

The article reports that Albert B. Ellentuck, chairman of the American Institute of Certified Public Accountants (AICPA) federal taxation executive committee, recently told the U.S. Senate Finance Committee that replacing the present income tax system with a flat-rate tax would harm the economy, favor the wealthy and possibly add complexity to the tax law rather than simplify it. Ellentuck presented oral testimony and delivered an AICPA paper on the flat-rate tax and alternative tax systems to the committee. The Committee began a series of hearings on tax reform proposals that was scheduled to continue in September, and possibly beyond, according to the panel's chairman, U.S. Senator Robert Dole. The hearings come at a time when tax increases are emerging as a central issue in the presidential campaign and when many see any reform effort next year accompanied by a major deficit-reducing tax increase.

The article focuses on the U.S. fiscal policy. Early in his second term, U.S. President George W. Bush has already signaled a willingness to spend political capital to enact changes to the federal tax system. Those changes, in whatever form they eventually take, along with a number of changes made to the tax laws during Bush's first term, will have a significant impact on the tax bills faced by every metals distributor. Among the ideas vying for the President's support are elimination of many of the so-called "tax preferences" in the lax law, a flat tax of less than 20 percent to replace the current tax bracket system, and the creation of a national sales tax that would completely replace the income tax.