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Taxation Speaker Write Up

In: Business and Management

Submitted By ayeknee
Words 315
Pages 2
Taxes have been a part of our everyday lives with an ongoing debate over the proper way to tax and the role the tax code should play in people’s lives. An Inconvenient tax depicts one of America’s messiest problems: a fundamentally broken tax code that affects us all. The documentary explores the history of income tax following it through wars, economic booms and presidential significance in US history. It also exposes the various ways Congress used the tax code to fulfill political goals opposed to raising revenue.
In my opinion, the tax code should just raise revenue then try to do as little else as possible because almost everything else that it does is harmful to the people. Basically, the tax code is a monster and that the US is in desperate need of real tax reform, not like the limited tax reform back in 1986. Some solutions that could be assistance are a Fair Tax in which there are no exceptions to it. Any exception would make it unfair. Any change would be obvious because the taxed amounts are on the receipts of anything you buy. A flat tax would be the highly recommended solution that an average tax payer and many politicians would prefer. But of course, because of politicians, the flat tax would not actually stay “flat” for long and we’d end up with 2000+ pages to the tax code again. Another idea would be a popular European tax known as the VAT tax. Basically, it adds a little tax throughout the production process. But on the downside, it’s not as transparent as a flat or fair tax and would least likely to reduce the complexity of the tax code and instead make it a little more complicated.
Although it is nice to think about and believe in, it is least likely that a tax reform would be happening anytime

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