Burman: Taxes in America | Taschenbuch

Cover: 9780190920852 | Taxes in America | What Everyone Needs to Know | Burman | Taschenbuch

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Beschreibung

Taxes in America offers a clear, concise explanation of how our tax system works, how it affects people and businesses, and how it might be improved, in an accessible and occasionally humorous manner. The book explores what makes a tax system fair, simple, and efficient, why our system falls short, and whether the new tax law promises much, if any, improvement.

Über den Autor

Leonard E. Burman is Paul Volcker Professor of Behavioral Economics at the Maxwell School of Syracuse University and Institute Fellow at the Urban Institute.

Joel Slemrod is Professor of Economics in the Department of Economics and the Paul W. McCracken Collegiate Professor of Business Economics and Public Policy in the Stephen M. Ross School of Business, at the University of Michigan.

Inhaltsverzeichnis

PREFACE

Who are we?

Why did we team up to write this book?

What's the book about?

Why did we write a second edition?

Who provided invaluable assistance on this project?

PART I HOW ARE WE TAXED?

1 The View from 30,000 Feet

a. Why is everyone always so worked up about taxation?

b. Why was everyone especially worked up in 2018? (Hint: a lot has changed)

c. What is a tax?

d. What are the major kinds of taxes?

e. How are taxes like ducks?

f. Are there "hidden" taxes?

g. Are there ways to raise revenue other than taxes?

h. Why not just borrow the money instead of raising taxes?

i. How can taxes be like regulations?

j. How can regulations and spending programs be like taxes?

k. How have taxes changed over time?

l. How do state and local taxes vary?

m. How does the composition of tax vary across federal, state, and local governments?

n. Is the United States really the highest taxed country in the world?

o. Federal taxes in the United States have been at about 18 percent of GDP for 50 years. Does that mean that this is the natural rate of taxation?

p. Why is the long-term fiscal outlook so dire?

2 Personal Income Taxes

a. What's the difference between personal taxes and business taxes?

b. Who really bears the burden of tax?

c. Are there cases in practice where it does matter who writes the check?

d. Can taxes affect asset prices?

e. What is the personal income tax?

f. Isn't the income tax a fraud?

g. What are exclusions, deductions, exemptions, and credits?

h. What is the standard deduction?

i. Why are there itemized deductions? Isn't it unfair that most people don't benefit from them?

j. Who benefits from the itemized deduction for state and local taxes (SALT)?

k. Why could raising the standard deduction and limiting the SALT deduction depress home prices and charitable giving?

l. At what income level do people start owing income tax?

m. Is it true that half of households owe no income taxes?

n. Is this bad for democracy?

o. Do we tax capital income the same as labor income?

p. What is economic income?

q. Why do economists think my home earns me rent?

r. Why don't we tax economic income?

s. How do we tax capital gains and dividends?

t. What are the arguments for and against lower capital gains tax rates?

u. What is the "Angel of Death" loophole?

v. What is carried interest?

w. If we want to favor capital gains and dividends, does it make sense to do it via lower rates?

x. What is the AMT?

y. What is the "Buffet Rule"?

z. What are hidden tax brackets?

aa. Does Uncle Sam really want you to live in sin?

bb. How does inflation affect the income tax?

cc. Why did TCJA change the inflation index for adjusting tax brackets and other parameters?

dd. What are payroll taxes and how are they different from income taxes?

ee. Aren't other taxes also dedicated to Medicare and Social Security?

ff. Is it true that most taxpayers owe more payroll than income tax?

3 Business Income Taxes

a. How do we tax corporations' income?

b. Why do economists say that we "double-tax" corporations' income?

c. What are the other ways business income is taxed?

d. Why tax corporations?

e. Which people bear the burden of the corporate income tax?

f. What are the impacts of double-taxing corporate income?

g. What would happen if we just eliminated the corporate income tax?

h. How can some companies get away with paying no income tax despite billions in profits?

i. Why is it troublesome that some companies view their tax departments as profit centers?

j. Income earned by corporations is double-taxed, and tax avoidance opportunities abound. Make up your mind-is corporate income taxed too much or too little?

k. What is depreciation?

l. What are expensing and bonus depreciation?

j. Should businesses' interest expenses be deductible?

k. Why do many corporate executives prefer tax cuts to expensing?

l. Are there implicit spending programs run through the corporate income tax?

m. Are multinational corporations taxed differently than domestic companies?

n. Should we try to tax corporations on their worldwide income?

o. What is a territorial system?

p. Will shifting from a worldwide to a territorial system bring American jobs home?

q. What is transfer pricing? Why is it important to multinational corporations (and taxpayers)?

r. What are tax havens?

s. What is a global minimum tax and why does it matter in a territorial system?

t. What is formulary apportionment? Would that be a better option than trying to enforce transfer pricing rules?

q. How does the U.S. corporate tax rate compare to the rate of other countries?

r. Did our relatively high corporate tax rate hurt our companies' competitiveness and the country's competitiveness?

4 Taxing Spending

a. What is a consumption tax?

b. Why tax consumption rather than income?

c. A consumption tax sounds great. What's the catch?

d. What is a retail sales tax?

e. What is a use tax?

f. What is a luxury tax?

g. What is an excise tax?

h. What is a sin tax?

i. What is a Pigouvian tax?

j. What is a VAT?

k. The credit-invoice VAT sounds really complicated. Why do it that way?

l. Are small businesses subject to the VAT?

m. Why doesn't the United States have a VAT?

n. How much money would a VAT raise?

o. What is the typical VAT rate in other countries?

p. How would a federal VAT interact with state and local sales taxes?

q. Does a VAT promote exports?

r. The destination-based cash flow tax (DBCFT) is a mouthful. What is it?

s. Why could imposing a border adjustable tax (BAT) hurt importers and help exporters?

t. A DBCFT sounds like a VAT with a longer and unpronounceable acronym. How is it different?

u. What is the "Angel of Death" loophole?

v. Wouldn't a flat tax be super simple and fair?

w. There are flat taxes all over Eastern Europe. Are they the same as the flat tax advocated for the United States?

x. What is the X tax?

y. What is a consumed income tax?

z. Are tax breaks for saving and retirement indirect steps toward a consumption tax?

aa. Do these tax breaks actually encourage saving?

bb. If the economy runs on consumption, why would we want to encourage saving?

[...]'s the difference between Roth and traditional IRAs?

dd. Do consumption taxes disproportionately burden the old?

5 Other Kinds of Taxes

a. What is the estate tax?

b. How is estate tax liability calculated?

c. Why tax estates when the assets that went into them were already subject to plenty of tax?

d. What are the estate tax's effects on work and saving?

e. How does the estate tax affect small businesses and family farms?

f. Should the United States adopt a wealth tax?

g. What is the difference between an estate tax and an inheritance tax?

h. What is a financial transaction tax?

i. What is the property tax?

j. What is a lump-sum tax?

k. Do economists have other goofy ideas about ideal tax systems?

l. Do these ideas explain why people don't like economists?

PART II THE COSTS AND BENEFITS OF TAXATION

6 Taxes and the Economy

a. How do taxes affect the economy?

b. Why do economists think that raising funds costs much more than the tax sticker price?

c. Do some taxes help the economy?

d. What is the Laffer Curve?

e. Which is a better economic stimulus, cutting taxes or spending more?

f. What kinds of taxes provide the most stimulus?

g. What are built-in stabilizers?

h. How do taxes affect prosperity and growth?

i. How do taxes affect working and saving?

j. How do taxes affect entrepreneurship?

k. How do taxes affect research and innovation?

l. What is "trickle-down" economics?

m. Why do smart, serious people disagree about optimal tax policy?

n. Why not run deficits forever?

o. Are the benefits of tax cuts diminished, or eliminated, if they increase deficits?

p. If people care about their children, won't they just save more to make up for any deficits? That is, dodeficits matter at all?

q. Will the Tax Cuts and Jobs Act boost the economy and make most Americans better off?

7 The Hidden Welfare State

a. Are a trillion dollars in middle-class entitlement programs really hidden in the tax code?

b. What exactly is a tax expenditure?

c. Why do...

Details

Erscheinungsjahr:	2020
Fachbereich:	Allgemeines
Genre:	Importe , Wirtschaft
Rubrik:	Recht & Wirtschaft
Medium:	Taschenbuch
Inhalt:	Kartoniert / Broschiert
ISBN-13:	9780190920852
ISBN-10:	0190920858
Sprache:	Englisch
Einband:	Kartoniert / Broschiert
Autor:	Burman
Hersteller:	Oxford University Press, USA
Verantwortliche Person für die EU:	Deutsche Bibelgesellschaft, Postfach:81 03 40, D-70567 Stuttgart, vertrieb@dbg.de
Maße:	210 x 140 x 19 mm
Von/Mit:	Burman
Erscheinungsdatum:	20.06.2020
Gewicht:	0,441 kg