100 Million Unneccesary Returns - A Fresh Start for the U.S. Tax System
According to Graetz, the current U.S. income tax system is unfair and too complicated resulting in tax compliance going down. "The current status quo [of the U.S. income tax system] is not stable," he said. And then, he proceeded to outline his proposal to eliminate 100 million tax returns annually. This well-researched system would remove the need for annual filing for those making less than $100,000 per annum (joint)/$50,000 per annum (individual) and imposing a 10-15% VAT nationwide. Introduction by Professor Alan Watson.
Graetz, Michael J., "100 Million Unneccesary Returns - A Fresh Start for the U.S. Tax System" (2003). Sibley Lecture Series. Paper 16.
Sibley Lecture Series Brings Ivy League Scholars in Internet and Tax to Campus, The Advocate, Spring/Summer 2003, Vol. 37, no. 2
graetzpressrelease.pdf (6 kB)
Tax Guru Michael Graetz to Call for Major Changes to the U.S. Income Tax System at the 96th Sibley Lecture
graetz_program.pdf (218 kB)
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