ISBN : 9780199948802
The Death of the Income Tax explains how the current income tax is needlessly complex, contains perverse incentives against saving and investment, fails to use modern technology to ease compliance and collection burdens, and is subject to micromanaging and mismanaging by Congress. Daniel Goldberg proposes that the solution to the problems of the current income tax is completely replacing it with a progressive consumption tax collected electronically at the point of sale.
The Problem: The Income Tax is Broken
Chapter 1-What is the Income Tax and Why is it Broken?
Chapter 2-Taxing Income is a Flawed Concept
Chapter 3-Tax Planning Under the Income Tax
Chapter 4-Progressive Taxation
Chapter 5-Tax Expenditures
Chapter 5 Appendix-Kingdom of PAL:A Parable of Tax Expenditures, Tax Shelters, and the Passive Activity Loss Rules.
Chapter 6-The Alternative Minimum Tax (AMT): An Admission of Failure
Chapter 7-The Intractable Problem of Tax Cheating
Chapter 8-The Deadweight Cost of the Personal Income Tax
Chapter 9-Tax Consumption Instead of Income
Chapter 10-Individual Level Consumption Taxes
Chapter 11-Business Level Consumption Taxes
Chapter 12-The Current Internal Revenue Code: An Income Tax, a Consumption Tax, or a Hybrid?
Chapter 13-An Introduction to an Integrated Two-Tier Consumption Tax
Chapter 14-e-Tax: An Electronically Collected Progressive Consumption Tax as the Successor to the Income Tax
Chapter 15-e-Tax Redux: Special Considerations
Chapter 16-Transition to e-Tax
Conclusion and Prospects for Change
Appendix A-Tax-inclusive Rate vs. Tax-exclusive Rate and Gross-up
Production and Consumption Charts-Simplified Production and Consumption Cycle, and Flow of Income & Expenditures Cycle