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. Accessibly written and 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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9780190920852

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Reviews

Burman and Slemrod, outstanding tax scholars, explain what everyone needs to know about US federal taxes, as promised in the title. Their approach to explaining federal tax complexities is to pose questions...then provide straightforward, jargon-free answers to these questions. Even when the logic of the answer is convoluted and sophisticated, based on stacks of economic analysis, the authors manage clear, direct answers. The book provides the best start for anyone struggling to make sense of the federal tax system and of the current argument about tax reform and restructuring. It does not provide the answers, nor does it try to, but this work provides the best available context for understanding what is going on and for allowing the reader to reach an informed decision about the arguments. Essential. * CHOICE * Recently I've been reading economists Leonard Burman and Joel Slemrod's Taxes in America. Like pretty much everything else these two write, this book is well worth reading. In particular, it hits all the important questions about taxes in a clear and neutral manner. I highly recommend it whether you want to learn more about our tax system, its incidences, its cost, and more, or whether you want to learn how to explain complex tax issues in a simple and concise way. * Veronique de Rugy, National Review * This volume makes complex issues of tax design and economic analysis not only accessible, but often entertaining. It explains with extraordinary clarity the current tax system, as well as leading reform proposals. It is must reading for anyone who hopes to understand and to participate in the approaching national debate on tax reform. * James M. Poterba, Mitsui Professor of Economics, Massachusetts Institute of Technology, President, National Bureau of Economic Research * This volume provides an excellent overview of tax policy. Using non-technical language, it lucidly discusses institutional, political, and economic issues associated with the tax system. All those who want to find their way through the thicket of tax reform will want to have a copy of this book on their shelves. * Harvey S. Rosen, John L. Weinberg Professor of Economics and Business Policy, Princeton University * As America gears up to debate fundamental tax reform again, two of the giants of the field have laid out everything you need to know in order to understand what reform means and why it matters-how the tax system works, who pays and how inefficient it is. If every policy maker in America read this book, the tax code would probably look a lot different. * Austan Goolsbee, University of Chicago Booth School of Business, Former Chairman, Council of Economic Advisors * This is an excellent, understandable book on a topic important to a wide range of library patrons. * BOOKLIST * Burman and Slemrod bring their wealth of experience and scholarship to the task of helping the American taxpayer and voter understand the language of taxation * to distinguish the marriage bonus from bonus depreciation and transfer pricing from transfer payments. The authors' comprehensive yet comprehensible tour of the US tax system will promote readers' understanding of the taxes we pay and the policy choices we confront. * This is an excellent, understandable book on a topic important to a wide rangeof library patrons. * Library Journal * A valuable new primer on the nation's wild and crazy revenue system. Taxes in America is a clear, concise, and easy-to-read tour of the U.S. revenue system. It is written in a simple question-and-answer format, and does a nice job of breaking down complex tax theory into bite-sized understandable chunks. If you find yourself baffled by the politicians' arguments over tax rates and loopholes or about the various forms of tax reforms that are floating around, Taxes in America will help you understand what it is that lawmakers are about to do to you. * Forbes *

Author Information

Leonard E. Burman is Daniel Patrick Moynihan Professor of Public Affairs at Maxwell School of Syracuse University. 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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