This article criticizes a proposal recently put forward by the co-chairmen of the National Commission on Fiscal Responsibility and Reform to abolish all tax expenditures and sharply reduce statutory tax rates. The author believes that abolishing all tax expenditures without regard to merit or a...

This article examines the distribution of wealth and theories justifying both the acquisition of great wealth and limitations on it. Discusses the estate tax, its economic effects and effectiveness in equalizing the distribution of wealth. Concludes that it has been very ineffective and that...

"Starve the Beast" is a theory held by many Republicans, which holds that tax cuts automatically bring about spending cuts and thus prevent an increase in the budget deficit. This paper explains how this theory came to be developed and its political and economic consequences

This article reviews various options for tax reform, emphasizing that the choice of tax rates and tax base are separate issues for achieving different things. Liberals generally support progressive rates and an income base, while conservatives generally support a flat rate on a consumption base....

This paper argues that the fall of ancient Rome was principally due to excessive government. It led to inflation and high taxation that sapped Rome's economic strength and eventually made it impossible for the western empire to afford to defend itself

This article discusses the tax treatment of capital gains at death. In 2001, Congress enacted carryover basis beginning this year, meaning that heirs inherit the original basis for tax purposes along with the assets. When they are sold, they are supposed to pay taxes on all the gains accrued...

In this article, the author reviews the history of taxing sin in the United States, showing that revenue needs usually triumph over sumptuary considerations. He suggests that this may lead to legalization of at least some illegal drugs so that they can be taxed, as recently proposed in...

There have been a number of proposals lately to impose a new tax on securities or financial transactions, both as a revenue measure and a way of disciplining Wall Street speculation. This article argues that such a tax would be a bad idea and that it makes more sense to tax financial activities...