This lecture examines how the current tax system slows economic development and hampers international competitiveness. It also covers why getting the tax base right is at least as important as reducing the statutory tax rates, and examines alternative tax regimes.
At the end, we estimate what economic benefits might be attainable from a complete reform of the system, and compare the results of going to a pure income tax versus a pure expenditure tax.
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Enroll in Tax Foundation University Online here: https://taxfoundation.org/university/online