Consideration of effective tax rates, taxpayer demographics (such as asset and revenue size and type of entity), tax expenditures, audit rates and more, is useful to better understand our existing tax systems. This data is also useful in understanding tax reform efforts. For example, given that the bulk of business entities do not operate as C corporations, should corporate tax reform be scrapped and business tax reform be the focal point instead?
I've got a short article in today's AICPA Corporate Taxation Insider on a data-driven perspective on tax reform. It is a start as there is a lot more data that can be analyzed. Also useful to consider in tax reform are trends shaping the economy and society. For example, the growth of e-commerce, more mobile employees and growth in self-employed entrepreneurs. I've posted on that before - here. After all, a revised tax system should reflect how we live and work today rather than how we did so in the past.
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