The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
Is the real lesson from tax reform that Americans rely too much on the income tax to fund their government? Time and again, that box has proven too small a revenue pot to do all that it’s asked by tax writers. And this leads to decisions, however well-intentioned, that contribute to distortions down the road. Most other industrial nations lighten the load on their income tax by combining it with some form of consumption taxes — a hard sell in today’s Washington. But given the partisan carnage of this latest tax fight, the uncertain result, and very real debt crisis facing the nation, is it time for both parties to start looking at other options?
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