The Politics of Loopholes: The Improbable Prospects for U.S. Tax Reform
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Overview
What are the implications and likelihood of reform of the income tax system in the United States—specifically, the expansion and scope of the tax “expenditure” (loophole) system embedded in the income tax codes? This book details the tax system that now provides for more than 200 tax expenditures, highlighting the potential lost tax dollars.
Income tax policy and politics is an inherently complex and potentially confusing topic. This book makes the tax loophole system understandable for those without in-depth knowledge about taxes. It explains what our tax system looks like, why it is set up as it is, and what effects it has on raising revenue (and thus deficits) and the furtherance of other policy goals. Additionally, it explains why, despite popular and political desires, a significant overhaul of the tax system is very unlikely to be enacted: because tax expenditures (otherwise known as loopholes) benefit all Americans in some way and are supported as policy by both political parties.
Written by John F. Witte, an established expert in tax policy and policy analysis, the book provides a balanced viewpoint that discusses the implications of reform of the income tax system in the United States, demonstrates the range of individuals who are affected by various provisions, and identifies what effects loopholes have on policy goals. Readers will see how both political parties are responsible for the creation and expansion of various loopholes, understand why many of these provisions make sound policy sense, and grasp how the tax code is affected by political desires and policy goals.
What are the implications and likelihood of reform of the income tax system in the United States—specifically, the expansion and scope of the tax “expenditure” (loophole) system embedded in the income tax codes? This book details the tax system that now provides for more than 200 tax expenditures, highlighting the potential lost tax dollars.
Makes the tax loophole system comprehensible for lay readers and explains the implications of reform of the income tax system in the United States
Debunks the myth that tax expenditures only benefit the wealthy
Presents informed predictions about the likelihood of changes to the tax code
List of Tables and Figures
Preface
Acknowledgments
ONE: Introduction
TWO: Tax Reform in Theory and Practice
THREE: A Brief Thematic History of the Income Tax
FOUR: Tax Expenditures (Loopholes)
FIVE: Tax Expenditures and Economic Behavior
SIX: Tax Expenditures for Human Resources and Income Support
SEVEN: Tax Expenditures for Intergovernmental Transactions and Special Groups
EIGHT: Using the Tax System for Nonrevenue Public Policies
Bibliography
Index
Witte presents a definitive examination of tax loopholes (technically, ’tax expenditures’) and the dim prospects for the classical base-broadening and rate-reducing reform prescription. . . . Summing Up: Recommended. Upper-division undergraduates through professionals.
- Title: The Politics of Loopholes: The Improbable Prospects for U.S. Tax Reform
- Author: John F. Witte
- Publisher: Praeger
- Print Publication Date: 2016
- Logos Release Date: 2024
- Pages: 216
- Language: English
- Resources: 1
- Format: Digital › Ebook
- ISBN: 9798216129974
- Resource ID: LLS:9798216129974
- Resource Type: Monograph
- Metadata Last Updated: 2025-04-22T16:00:48Z
John F. Witte, PhD, is founding dean at the School of Humanities and Social Sciences at Nazarbayev University in Astana, Kazakhstan.