Agree on specific revenue-raisers while maintaining or improving tax progressivity.
Lots of things are important when it comes to stock performance, and unfortunately a rather disturbingly high number of them are generally ignored by most investment analysts: religion (yes, religion), fertility, ethical corruption, moral corruption, property rights, soundness of currency, debt, tax progressivity, and size of government (which is another topic on which Mr. Mauldin has become a little muddled: more on this later).
In other words, tax share says nothing at all about the progressivity of tax rates.
At the same time, tax reforms must maintain or improve the progressivity in the tax code and promote economic growth.
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There were some missteps (the capital gains tax went up by 40%), but in all the Act was a stellar example of bipartisan tax-cutting and progressivity-lessening.
International groups such as the OECD had already pointed out that the U.S. already had what was probably the most steeply rising progressivity of tax rates of any modern nation.
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Second, although the Bush tax cuts have been widely derided as a handout for the wealthy, the cuts increased the progressivity of the federal tax code.
This is an idea that liberals love because it extends the progressivity of the tax code to the wealthiest Americans.
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Business leaders should work with the administration and Congress on tax legislation that would reward work and bolster investment, while retaining the tax system's essential progressivity.
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If the progressivity of the tax code were framed as an expenditure--in the amount of all taxes paid at rates lower than 39.6%--the CBO would have found an enormous benefit to lower-income taxpayers.
Would an increase in the "progressivity" of the tax system be the way out of our budget woes?
By eliminating the preference afforded these two types of investment income, Bowles and Simpson believed they could retain the progressivity of the current tax code.
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You cannot prove anything about the progressivity or not of the tax system by looking at the effects of both the tax and benefit system.
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Thus, House Republicans will find it very difficult to offset the cost of those tax cuts while maintaining the current level of progressivity.
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To increase the plan's progressivity the panel added a 15% tax on financial income, though it allows three sorts of tax-free savings accounts.
The flat tax variant has typically been proposed to allow for some progressivity, via an exemption or credit, but 9-9-9 skips that part.
And so the question is, is there a way of achieving simplification, but still having some element of progressivity and some element of fairness in the tax system?
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Thus, I think it would have a natural progressivity, to counteract the regressivity inherent in a sales tax.
In practice progressivity has tended to imply more than one rate of tax, for instance, which is necessarily less simple than a flat tax rate.
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