Overview:Taxes are everywhere and are one of the largest items of expense for most businesses and households. Because of this, taxes are a regular topic of political debate, and many people disagree on tax policy. This is especially apparent in an election year, when each candidate announces their proposed changes to the tax law as part of their bid to get elected. Pretend that you are running for president, and present your platform for changes to our _income_ tax laws. Your paper should summarize the relevant existing income tax law, present your proposed change, and present your arguments for why the law should be revised. There is no minimum amount of required income tax law changes, but there is a minimum required length of 2 full pages of writing. (Thus, fewer proposed income tax law changes à more detailed discussion of arguments to fill the space). Grading: To earn the points, your assignment must be typed, double-spaced with size 12 font and one-inch margins, and at least 2-3 pages long (i.e. at least two full pages of writing, going onto the 3rd page). Arguments are based on your opinion and beliefs, but they must draw on the various considerations of tax policy, such as political, economic, social, and equity, in addition to the primary consideration of revenue generation. Thus, explaining that you don’t like something is not enough – there must be a tax policy argument. Your proposed tax changes must be changes to _income_ tax laws, not other types of tax laws such as sales tax or estate/gift tax.
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