Tax Reform for Fairness, Simplicity, And Economic Growth : the Treasury Department Report to the President Vol. 2. General Explanation of the Treasury Department Proposals
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In our eReader you can find the full English version of the book. Read Tax Reform for Fairness, Simplicity, And Economic Growth : the Treasury Department Report to the President Vol. 2. General Explanation of the Treasury Department Proposals Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Tax Reform for Fairness, Simplicity, And Economic Growth : the Treasury Department Report to the President Vol. 2. General Explanation of the Treasury Department Proposals
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A total of $58 billion of such nongovernmental bonds was issued in 1983, accounting for 61 percent of all long-term tax-exempt bonds issued that year.
Tax-exempt nongovernmental bonds have caused serious erosion in the Federal income tax base, lowering tax receipts and forcing increases in the tax rates on nonexempt income. The revenues lost as a result of tax-exempt nongovernmental bonds represent an indirect Federal subsidy program, based in the tax code, and thus significantly free of the sc...rutiny that attaches to direct Federal expenditures. In many cases, the issuer of nongovernmental bonds would not spend its own revenues to support the activities that are Federally subsidized through tax-exempt nongovernmental bonds.
Tax-exempt nongovernmental bonds also have anti-competitive and distortive effects on the economy. Activities receiving tax-exempt financing have a significant advantage over their competitors, which must raise capital with higher-cost taxable obligations. Yet, the availability of tax-exempt financing for nongovernmental persons depends upon which jurisdiction has the necessary programs in place and upon the ability of persons to negotiate through obstacles of State and local law and procedure.
What to read after Tax Reform for Fairness, Simplicity, And Economic Growth : the Treasury Department Report to the President Vol. 2. General Explanation of the Treasury Department Proposals?
You can find similar books in the "Read Also" column, or choose other free books by United States. Dept. of the Treasury. Office of the Secretary to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
A total of $58 billion of such nongovernmental bonds was issued in 1983, accounting for 61 percent of all long-term tax-exempt bonds issued that year.
Tax-exempt nongovernmental bonds have caused serious erosion in the Federal income tax base, lowering tax receipts and forcing increases in the tax rates on nonexempt income. The revenues lost as a result of tax-exempt nongovernmental bonds represent an indirect Federal subsidy program, based in the tax code, and thus significantly free of the sc...rutiny that attaches to direct Federal expenditures. In many cases, the issuer of nongovernmental bonds would not spend its own revenues to support the activities that are Federally subsidized through tax-exempt nongovernmental bonds.
Tax-exempt nongovernmental bonds also have anti-competitive and distortive effects on the economy. Activities receiving tax-exempt financing have a significant advantage over their competitors, which must raise capital with higher-cost taxable obligations. Yet, the availability of tax-exempt financing for nongovernmental persons depends upon which jurisdiction has the necessary programs in place and upon the ability of persons to negotiate through obstacles of State and local law and procedure.
What to read after Tax Reform for Fairness, Simplicity, And Economic Growth : the Treasury Department Report to the President Vol. 2. General Explanation of the Treasury Department Proposals?
You can find similar books in the "Read Also" column, or choose other free books by United States. Dept. of the Treasury. Office of the Secretary to read onlineMoreLess
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