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Natasha Sarin proslijedio/la je Tweet
Justice Oliver Wendell Holmes famously said, “Taxes are what we pay for a civilized society.” Any company that wishes to be thought of as a good citizen needs to join the effort to combat corporate tax avoidance.https://www.washingtonpost.com/opinions/2020/01/30/if-business-leaders-are-serious-about-doing-good-they-can-start-by-paying-their-taxes/ …
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Natasha Sarin proslijedio/la je Tweet
My column in today’s
@washingtonpost w @NatashaRSarin outlines five things that should be done to reform the IRS and our tax codehttps://www.washingtonpost.com/opinions/2020/01/30/if-business-leaders-are-serious-about-doing-good-they-can-start-by-paying-their-taxes/ …Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Natasha Sarin proslijedio/la je Tweet
There’s no argument for corporate tax privacy. That & other excellent ideas for IRS and tax reform from
@LHSummers &@NatashaRSarin column building off of@paulkiel’s workhttps://www.washingtonpost.com/opinions/2020/01/30/if-business-leaders-are-serious-about-doing-good-they-can-start-by-paying-their-taxes/ …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Natasha Sarin proslijedio/la je Tweet
If business leaders are serious about doing good, they can start by paying their taxes. My column w
@NatashaRSarin in today's@WashingtonPosthttps://www.washingtonpost.com/opinions/2020/01/30/if-business-leaders-are-serious-about-doing-good-they-can-start-by-paying-their-taxes/ …Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Our chapter (& the rest of the great book!) available from
@HamiltonProj here: https://www.hamiltonproject.org/papers/tackling_the_tax_code_efficient_and_equitable_ways_to_raise_revenue …Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
We view this as a feature, not a bug. It would be a mistake to spend limited political capital on approaches that raise legal risks, implementability concerns, and are untried (or have been tried and failed internationally).
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Much of our program falls in the bucket of “traditional” approaches to progressive tax reform, rather than radical alternatives, e.g. wealth tax, mark-to-market.
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Greater investment in the IRS is the obvious place to start a progressive tax reform agenda. It will make the tax system more efficient and equitable.
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Yet the chance of a millionaire being audited has gone down 75% in the last decade. You are now as likely to be audited if you are in the top 1% as if you are on the EITC.
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A quick note on compliance: IRS fails to collect 15% of taxes it is due. Compliance rates for ordinary workers are 99%. For high income individuals who accrue income in opaque categories, they can be as low as 45%.
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We lay out a progressive program for raising this revenue, through ramping up IRS enforcement efforts, overhauling cap gains taxation, and base-broadening and loophole closing approaches.
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By returning to historical peak and much more aggressive corp taxation, we think it is possible to generate around $4T in a decade. That’s less than others have suggested; but it’s a lot.
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Many seem to reminisce about a golden era, when top rates were 2x as high (or more!) than they are today. In reality, no one paid 90%, or 70% top rates. Since 1960, max effective tax rate on the top 1% was 47.5%.
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In 2017, AGI of the top 1% was around $2.3T. They paid $800B in taxes. That leaves $1.5T untaxed. How much of this can we aspire to collect?
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We start by asking: how much additional tax revenue can realistically be collected from those at the very top?
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Yesterday
@HamiltonProj, I had the chance to present a new paper with@LHSummers and Joe Kupferberg advocating for changes to tax code to raise revenue in a progressive, efficient, and equitable way http://bit.ly/38O2p8QPrikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Natasha Sarin proslijedio/la je Tweet
The IRS budget has reached historic lows in the past decade, leading to trillions of dollars in lost revenue due to noncompliance.
@NatashaRSarin,@LHSummers, and Kupferberg propose new efforts to increase#TaxPolicy compliance: http://bit.ly/2GtaEuS pic.twitter.com/OMkGeC3QjD
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Natasha Sarin proslijedio/la je Tweet
"The proposals in our chapter are good policy that will make the tax code more efficient and equitable." —
@NatashaRSarin#TaxPolicypic.twitter.com/6Fg4aWj5No
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Kobe Bryant means a lot to a lot of people. I grew up watching every game. We wore our Kobe jerseys and caught up on the day. We named our dog Bufar Bryant Sarin after him. My brother even works in the NBA bc he wanted to be like him. I'm immensely grateful--and devastatedhttps://twitter.com/AbraarKaran/status/1221540266621845508 …
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But rather than fund the IRS, we've depleted it. And so large corp audits like this one down 50% Greater investment in tax compliance is not where tax reform should end, given our revenue needs. But it is certainly where to begin.
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