United States Tax Reform: A Common Sense Approach

Confidence W. Amadi, Felicia Y Amadi

Abstract


The fairness of the United States Tax system is at the center of the debate on economic growth and deficit
reduction. The prevailing solutions seems centered on stimulating the economy by cutting taxes and cutting
spending to minimize its impact on the federal budget deficit. The major area of disagreement lies in the fairness
of the current tax system and the belief that the segment of the society most able to bear the cost of government
are paying the least or not paying their fair share. The objective of this paper is to propose a tax code that is fair,
a tax code that is simple enough that a taxpayer does not need a professional to help him or her to figure out their
tax bill. This tax system is based on a combination of personal income tax, consumption tax and the elimination
of the corporate income tax.


Full Text: PDF DOI: 10.5539/ijbm.v7n11p67

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

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