The Benefit And The Burden: Tax Reform-Why We Need It And What It Will Take (2012) - Plot & Excerpts
Very glad to have read this book on the U.S. Tax system and options for tax reform. Bruce Bartlett, the author was an appointee under the Reagan Administration and also worked under George H. Bush (#1)After giving an overview of basics about the tax system and how our tax system compares with other countries, including a description of U.S. corporation taxes and capital gains taxes and a whole chapter on the ineffective Bush tax cuts, the author makes a strong pitch for a consumption tax such as a Value Added Tax (V.A.T.) like what is used throughout Europe. Normally this type of tax is considered very regressive, but he feels the pro's outweigh the cons. And I thought he presented a pretty good case. The author explains that there will never be tax reform in this country until Grover Norquist agrees to release those congressmen he holds hostage to a policy of no tax increase no matter what.Norquist believes "The only time the deficit comes down is when you refuse to raise taxes and you rein in spending." Bartlett presents a powerful contrary example when in 1993, Clinton and the Democratic congress raised taxes by about .6 percent. According to Norquist, this should have led to higher spending but "in fact, spending fell from 22.1 percent of GDP in 1992 to 18.2 percent in Clinton's last year." Also, the author points out the fact that spending rose after the Bush tax cuts in 2001, 2002, 2003, 2004 and 2005 exemplifies another case that disputes the claims of Norquist. The reader may understand Tax issues better after reading this book but I don't think any reader will feel optimistic about how our Tax system could be improved anytime soon until the radically divisive politics in Washington can be tamed to produce Tax reform in the interests of the country and not just in the interests of Grover Nyquist and his supporters. Good read for what it was. Good background and history. Interesting to note that during the Eisenhower era the top 1% paid over 50% in taxes and people call that the golden era. Now that same top 1% pay way less and we are in such a mess. Tax reform is needed but if you could get Washington or the state capital politicos to agree on how to get there you would be the greatest motivator ever. In this politically charged and devisive climate we are lucky if we get a non-binding resolution to wish everyone Happy Birthday.
What do You think about The Benefit And The Burden: Tax Reform-Why We Need It And What It Will Take (2012)?
interesting perspectives... didn't agree with all of it, but worth considering some new ideas.
—AzzaKedavra
A comprehensive and highly readable account of a very dry and boring topic.
—Desiree08
Credible segment on Moyers & Company, 10 Feb 2012
—smannonshart
The best primer on Tax Policy I have ever read.
—onread
