Abstract
This paper explains that initiating a flat-rate tax would greatly simplify taxation in the United States, thereby freeing up time and capital spending on compliance with tax codes. The author points out that decreases in marginal taxes will increase incentives to produce and will funnel money away from non-economically productive investments designed to minimize taxes. The paper relates that one of the most common criticisms concerning the implementation of a flat tax rate is that it will harm lower-income households, while not greatly affecting higher income Americans.

Table of Contents
Introduction
Support for a Flat Tax
Criticisms of the Flat Tax
Conclusion

From the Paper
"Importantly, the flat tax system is economical and efficient simply as a result of its ease to administer and comply with. A flat tax system reduces the hassles and burdens of compliance to a complex graduated system. This reduces the burden on taxpayer, the tax collector, as well as the accountant. While a flat tax system will ultimately reduce the demand for accountant's and lawyer's services, it will free a large numbers of Americans from time-intensive taxation issues. Higgins argues that a flat tax system will save about two billion hours per year in filling out forms and keeping records. Further, the $200 billion needed to comply with current tax codes will be significantly reduced. As such, these Americans can presumably funnel this extra time into making more money, thus ultimately improving consumer spending and stimulating the economy."

Tags:rich, poor, code, compliance, percentage

Abstract
This paper begins by explaining the difference between a public debt and a federal debt and then takes a look at President Bush's tax-cut policy, the theory behind why it is supposed to help the economy, its effects, and its implications for American citizens and the American economy.

From the Paper
"A debt that has been accumulated by the Federal Government in either its Treasury or in its Financing Bank is referred to as a "Public Debt". The debt could have been incurred by either the selling of "securities" and bonds to the public, or through the borrowing of funds from a Federal account. A public debt can also be defined as the total amount that the Federal Government has accrued due to all its borrowings in the past. (Definition of Public Debt) Federal Debt, on the other hand, can be defined as the total amount of debt that is owed by the Federal Government that is as yet unpaid. A federal debt can consist of both public debt and agency debt. A federal debt is made up of the funds owed to the Treasury, in the form of Treasury Bills, Treasury Notes, and also Treasury Bonds."

Tags:ceiling, limit, congress, borrowed, treasury, federal, government, accrued, funds

Abstract
This paper explains the U.S. Steel tariffs and when and why they were put in place. It presents an argument defending the tariffs, and discusses how these tariffs impact international business and world wide relations for the United States.

From the Paper
"On March 5, 2002, the Bush administration imposed a 30 percent tariff on steel imports over the next three years. The tariffs exclude members of the North American Free Trade Agreement, including Canada and Mexico. Imports from developing nations that account for less than 3 percent of the total for individual steel product lines are also excluded. Duties ranging from 8 percent to 30 percent took effect on March 20, 2002. The tariffs cover flat-rolled steel and other steel product imports from countries including Brazil, South Korea, Japan, Russia, Germany, Turkey, France, China, Australia, and the Netherlands and will remain in place for three years (Bush 2002).
President Bush faced few alternatives to save the nation's beleaguered steel industry. United States trade representative, Robert Zoellick, expressed that the American steel industry was basically up against the wall and that Bush's actions would restore the strength and profitability of the industry. Approximately thirty-one steel companies have filed for bankruptcy since 1998, the year of the Asian financial crisis that prompted a flood of cheap steel into the United States, causing steel prices to tumble to 20 year lows. The Bush administration defended import restrictions as an effort to eliminate some of the 200 million tons of global excess steel-making capacity (Bush 2002). Originally demanding 40 percent tariffs over four years, the U.S. steel makers seem content with the imposed 30 percent over three years. The Bush administration faced strong political pressure to protect the industry from the crushing effects of imports from the political battleground states such as Pennsylvania, Ohio and Illinois (Bush 2002)."

Tags:imports, profitability, crisis, financial, excess, global, restrictions, bankruptcy, exemption, loss

Abstract
This paper examines how, faced with the worse economic slump in more than twenty years, President Bush is responding with a tax cut proposal that will adequately address many of the sources of the economy's woes. It evaluates how his plan calls for immediate actions to reverse the stock's market's downward spiral and to fuel consumer and business demand. It analyzes how Bush's plans represent a fair balance of benefits for the wealthy, middle income and low income households and how the negative short-term effects on the budget will be negated by the long-term prosperity generated by the economic stimulus package.

From the Paper
"The key feature of President Bush's tax plan is elimination of the double taxation of dividends. The two-year bear stock market has seen losses of more than $7 trillion. These losses have devastated investment in technology startups because of the lack of an IPO-exit potential and have dramatically decreased the value of individual's investment portfolios and pensions. Currently, dividend income is taxed as corporate income to the business and as personal income to the receiver of the dividend, meaning that tax rates on dividends can run as high as seventy percent. These exorbitant tax rates reduce stock values, capital investment and savings. Dr. John Rutledge, a senior economist in the Reagan Administration and now president of Rutledge Capital, states that a dividend tax reduction would raise stock values by five to thirty percent because a cut would raise the after-tax return on dividend paying assets above that of other assets."

Tags:budget, portfolios, pensions, investment, income

Abstract
This paper takes a close look at the concepts of the flat tax and looks at its possible benefits and potential failings. Although there is a basic format of the flat tax, there are multiple flat tax proposals that have been offered by conservatives. Along with critiquing the basic format, this paper compares and contrasts the different flat tax proposals.

From the Paper
"The United States tax system is in complete disarray. Republicans and Democrats agree that the current tax code is complex, unfair, and costly. The income tax system is so complex; the IRS publishes 480 tax forms and 280 forms to explain the 480 forms (Armey). The main reason the tax system is so complex is because of the special preferences such as deductions and tax credits. Complexity in the current tax system forces Americans to spend 5.4 billion hours complying with the tax code, which is more time than it takes to manufacture every car, truck and van produced in the United States (Armey). Time is not the only thing that is lost with the current tax system; Americans also lose great deal of money complying with the taxes. Resources that are currently wasted on record keeping, filing forms, learning the tax code, litigation, and tax avoidance. The cost of complying with the current tax code totals about $200 billion annually, or $700 for every man, woman, and child in America (Armey 1). The overwhelming consensus that the current tax system is inadequate has ignited the search for tax reform. There are numerous proposals for tax reform; one particular proposal is the idea of a national flat rate income tax. The idea is to replace the current income tax with a single rate that everyone pays."

Tags:reform, income, cost, system

Abstract
This paper provides a thorough definition of NAFTA and proceeds to examine the impact that this agreement has had on the United States. It deals with personal issues such as claims of heightened unemployment as well as national issues such as tax benefits and improved trade.

From the paper:

"On January 1, 1994, the North American Free Trade Agreement (NAFTA) was implement between Canada, Mexico, and the United States. This treaty drops most tariffs by 50% immediately, and dropped to zero by 2009. It is a unique trading agreement between two developed countries and a developing nation on a single continent. After eight years since NAFTA commenced, there are mixed analysis and opinions on whether this treaty is a success. It was designed to provide a free-flow of goods between countries without imputative measures and tariffs being enforced; it was promoted as a means to improve productivity and create jobs in the three countries; and, it was touted as model for further free-trade blocs to be created in the Americas and in other regional markets. After eights, no other free-trade blocs exists, nor has any other free-trade treaties been pursued and/or implemented by the NAFTA partners; and, with a world in a recession, there are two points of views on whether NAFTA has been more damaging than good during at this time, or if NAFTA has prevented further harm through its free-flow of goods."

Tags:tariffs, border, factory, union, strike, politics, lobby, import, export, Canada, Mexico, government, spending

Abstract
In recent decades, mass-marketed tax schemes have been the subject of great attention by the Taxation Office, Federal Parliament, as well as investors, advisors and promoters of such schemes. The papers lists the several reasons for such attention, which include the negative effect such schemes are having on the Australian tax base, the method of financing involved, as well as increasing costs for administering such schemes. Further, in terms of the individual investors in these schemes, unexpected exposure to interest and penalties on any resulting unpaid tax has also been under the spotlight.

From the Paper
"Before we begin, it is important to define mass-marketed tax schemes. Unlike some other schemes that can be ascribed as "boutique"/ "one-off" arrangements tailored for high income or high wealth individuals and large corporate entities, mass-marketed tax schemes are more generic arrangements and products marketed widely to taxpayers from different economic backgrounds . Mass-marketed tax schemes include employee benefit trusts, agricultural schemes with round robin and limited recourse funding, and certain film schemes with guaranteed returns that are, in effect, a return of part of the invested funds."

Tags:anti, ato, avoidance, iva, marketed, mass, office, part, scheme

Abstract
This paper explores the issues and history of corporate taxation. Corporations are taxed at a rate depending on their income. This paper discusses the pros and cons of dropping the corporate tax, the methods which can be used to drop or lower corporate taxes and why. The paper includes charts and statistics concerning corporate taxes.

Table of Contents

I. The Beginning of Corporate Income Tax
II. The 1986 Tax Reform Act
III. How Does Taxes Affect Business
IV. Corporate Tax Rates
V. Decline of the Corporate Income Tax
VI. Why the Wide Range Between State and Corporate Taxes
VII. How Does Corporate Tax Work with Multi-state Manufacturers?
VIII. Does the Corporate Tax Help
IX. Proposals of Corporate Income Tax
X. Need of Stimulus
XI. Future Research Concerning Corporate Taxes
XII. Conclusions
XIII. Works Cited

From the Paper
"Where did the corporate income tax begin? How does it affect our economy? What is the future of the corporate income tax? Will deleting corporate income tax be the answer for the economy? What about cutting part of this tax? How does the corporate income tax help the economy? These are questions that will be answered in this paper as well as how the corporate tax is affecting our economy now.
The Beginning of Corporate Income Tax

"How the corporate tax began is an example of why tax systems can be worse than they should be and how little influence the economic profession has on government policy (Norton 2). Sometimes ideals look great when they are not that sound. Corporate taxes were used during wartime until 1909, when Congress enacted a 1 percent tax on corporation income. The rate increased until 1932 to 12.5 percent when the rate was changed to the progressive rates. Norton stated, "Surtaxes on corporate income were added for "excess profits" during both world wars. The highest peacetime rate, 52.8 percent, was reached in the sixties" (2). "

Tags:corp, taxation, corporations, income, tax, reform, 1986, business, rate, decline, states, multi-state, manufacturers, stimulus

Abstract
The paper examines the federal government's program of subsidies to farmers, and reflects on how that impacts consumer costs. In conclusion, the paper finds that what is needed is not an overhaul of the tax system, but rather a reassignment of priorities in government spending.

From the Paper
"According to ?"Microeconomic Issues Today", American consumers are essentially paying twice for farm goods. Due to government subsidizing to assure farmers receive adequate income and price floors implemented, we pay higher prices. That is, we are paying for the value of the produce and then a portion that helps pay for the subsidy. We also pay in other ways through our tax dollars. We are paying for the employment of individuals who manage such government programs, which are ultimately enabling farmers. If farmers did not have subsidies to rely on they would be required to determine their own level of outputs, prices, etc, on a regular basis."

Tags:taxation, consumer, price, support

Abstract
An analysis of the current budget deficit and its causes--a slow economy, tremendous spending on the Iraq war and tax cuts. The paper also addresses the economic effect of a deficit on the economy and the desirable and adverse effects caused by a deficit. This essay concludes that spending would be more productive if directed to structural elements of the economy.

From the Paper
"Budget deficits occur when government expenditure is greater than revenue, forcing the government to borrow to meet its requirements. There are many potential economic effects of a deficit; the most apparent is an expansionary effect on the economy caused by injections of money being greater than withdrawals. Fiscal policy, among many other mechanisms is used to manipulate the economy. However, budget deficits should be used as to not adversely affect the economy. The federal budget deficit set the new record of $374 billion in 2003, doubling last year's efforts (Fram). The record deficit has been caused by the slow economy, tremendous spending on the Iraq war and tax cuts for the rich. This indicates that the great America does not know how to balance the checkbook, and certainly does not know how to spend wisely."

Tags:bush, debt, fiscal, iraq, monetary, spending, surplus, tax, tax, trade, war