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The Great Tax Reformation |
| Section: CURRENT ISSUES / SPECIAL FEATURE--GETTING GOVERNMENT UNDER CONTROL |
| Author: |
| Publication: The world & I online |
| Issue Date: 2/1/1986 |
| Size: 1,615 Words, 9,658 Characters |
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The United States tax system is imperfect. Some would say it is fatally flawed. The current tax code is over 5,100 pages long. An additional 10,000 pages of IRS interpretation are needed to explain the law. It has undergone nine major revisions since 1954, and the most recent bill, the Rosetenkowski namesake, represents another effort to change the system.
The complexity of the current system is undeniable. A 1977 Treasury Department study estimated that the American public spent 613 million hours filling out over 260 different forms. More recent estimates estimate that two billion hours are spent yearly just to pay taxes.
The cost of this is almost impossible to calculate. The average taxpayer no longer fills out his return. Over 52 percent of taxpayers have to get profess...
. . .
... Leader Jim Wright (D-Texas) for the office of Speaker of the House in 1987, Rostenkowski produced a bill many doubted could ever pass.
Tax reform may pass in 1986, but taxes will remain an issue. Gramm-Rudman will demand major decisions regarding the fiscal and tax policies of this nation. Tax reform will play an important role in the structure of the tax system for years to come.
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