U.S. And Swedish Trends In Tax Reform

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Term Paper Title	U.S. And Swedish Trends In Tax Reform
# of Words	981
# of Pages (250 words per page double spaced)	3.92

U.S. and Swedish Trends in Tax Reform

U.S. and Swedish Trends in Tax Reform

     Tax reform has become a major governmental policy issue in the United
States as well as in the rest of the world.  Countries are attempting to balance
both economic efficiency and provide equity in taxation.  Governments are
looking to rewrite tax codes to minimize their impact on economic growth.
Specifically, governments throughout the world are attempting to preserve
incentives built into taxation to maximize economic efficiency.  At the same
time, these governments are trying to cope with the growth in social welfare
programs throughout the past three decades.  In this paper I shall discuss two
nations which dramatically overhauled their tax systems, and whether or not
their goals with tax reform were achieved.
     In the article "The tax reform act of 1986: Did Congress love it or
leave it?", Randall Weiss discusses the attitudes about taxes in the United
States.  He details the events and attitudes leading to the Tax Reform Act of
1986, and shows how public perception about taxes has changed since then.  He
also discusses some of the tax reform proposals that are now currently being
thought about in Congress.
     In 1986 the United States Congress enacted the Tax Reform Act (TRA-86).
The act passed with a great deal of bipartisan support.  This support was made
possible by two features of the act.  The first was that federal income tax
rates were to be cut dramatically.  While this would lead one to believe that
federal government receipts were cut substantially as well, it was the second
important feature of the bill that allowed it to be revenue neutral.  This
feature was that the bill was to improve horizontal equity in the tax system.
This would be accomplished by eliminating many of the deductions that many
individuals, particularly the well to do, were allowed to make.
     Many of the complains about the tax system in the United States that
preceded the Tax Reform Act were about the gross horizontal inequities that it
allowed.  A great deal of press preceding TRA-86 showed the public how many of
the country's wealthiest individuals were able to get away with paying little or
no federal income tax.  Eliminating many of these tax deductions and loopholes
had been the goal of several liberal Democrats for some time.  In addition,
conservatives in Congress wanted to reduce the escalating federal budget deficit
at the time.  Also, a prevailing attitude of the time was that reduci...

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