Eliminating the U.S Income Tax Law
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The paper argues that income tax on all domestic corporations - widely known as the corporation income tax - is an unnecessary burden and should be abolished. The paper discusses how proponents believe all areas of the domestic economy would benefit, and economists state that the elimination would provide an economic stimulus to the country by providing the incentive for increased production resulting in a long-term benefit to the economy. The paper explains that for this problem, the dependent variable is the dollar amount of the decrease in tax revenue not received by the U.S. Treasury, and is determined by independent variables that would include: (1) Higher tax revenue paid by individuals, and (2) revenue from other forms of taxation enacted by the U. S. Congress, needed to replace lost tax revenue from the elimination of the corporate income tax. The paper relates that the primary and most important independent variable is the anticipated higher income tax revenue paid by individuals and received by the U. S. Treasury.
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Eliminating the U.S Income Tax Law (2008, December 01) Retrieved June 30, 2022, from https://www.academon.com/argumentative-essay/eliminating-the-usincome-tax-law-142203/
"Eliminating the U.S Income Tax Law" 01 December 2008. Web. 30 June. 2022. <https://www.academon.com/argumentative-essay/eliminating-the-usincome-tax-law-142203/>