The main problem with this game is that a few citizens out there don’t know it’s a game. They really believe tax reform is important and necessary and will materially improve their lives. The reality that previous reforms in 1969, 1976 and 1986 had virtually no discernible effect on the economy, living standards, fairness or simplicity has faded from memory, even among tax experts. I have previously discussed the academic research on the Tax Reform Act of 1986, especially the authoritative article in the June 1997 issue of the Journal of Economic Literature by Alan J. Auerbach of the University of California, Berkeley, and Joel Slemrod of the University of Michigan, which found almost no “real” effects on the economy despite massive changes in tax rates and the tax base. The bulk of the effects they could find simply consisted of superficial accounting and portfolio changes.
Posted on: Wed, 05 Mar 2014 00:35:23 +0000
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