Overview

Arguments about taxation are among the most heated--no other topic is as influential to the role of government and the distribution of costs and benefits in America. But while understanding of our tax system is of vital importance, the complexity can create confusion. Two of America's leading authorities on taxes, Leonard E. Burman and Joel Slemrod, bring clarity in this concise explanation of how our tax system works, how it affects people and businesses, and how it might be improved. 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. Organized in a clear, question-and-answer format, the book describes the intricacies of the modern tax system in an easy-to-grasp manner. It has been revised and updated to both explain the Tax Cuts and Jobs Act (TCJA) in 2017, the most comprehensive reform of its income tax system since 1986, and to examine its likely effects on individuals, businesses, and society. Among the questions discussed are: How much more tax could the IRS collect with better enforcement? How do tax burdens vary around the world? Why do corporations pay so little tax, even though they earn trillions of dollars every year? What kind of tax system is most conducive to economic growth? And, can taxes be fair?

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Jim Seybert has been telling stories for more than sixty years. As a young boy he would dictate stories, telling his parents to write this down. Fast-forward to the present, and Jim lends his clear, confident voice to some of the most interesting stories of the day: military histories, political commentary, true crime, heroic memoirs, and great fiction. When he is not recording in his studio on California's pristine Central Coast, he walks quietly along trails in the Sierra Nevada, cooks gourmet meals for friends, and watches films with his wife Rhonda and their Chihuahua, Lucy. 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.

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