There is a widespread consensus among Americans across the political spectrum that the tax system is overly complex, inefficient, uncompetitive, and due for an overhaul.
Over the past few months, our team of economists have modeled the effects of every option on federal revenue, the distribution of the tax burden, and the economy. Thus to loads of policymakers have expressed a desire for comprehensive tax reform in the near future.
Today is August 29, the 397th birthday of ‘JeanBaptiste’ Colbert, the French Minister of Finance under King Louis XIV and reorganizer of the finances of the country along protectionist lines. Today is August 26, the date in 1842 when Congress changed the federal fiscal year start from January 1 to July 1, to give Congress time to deliberate and pass a budget. On taxes, though, he sought. Remember, in, congress frequently missed the deadline. From the Tax Foundation Blog. >From the Tax Foundation Blog.