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What's in Store for the Income Tax?
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What's in Store for the Income Tax? book
What's in Store for the Income Tax?
DOI link for What's in Store for the Income Tax?
What's in Store for the Income Tax? book
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ABSTRACT
The size of the ERTA cuts convinced many tax analysts that there would be no further income tax legislation for some time. The reasoning was that no further tax cut would even be considered, and that no other tax change would be politically feasible without an accompanying tax cut to sweeten the deal. This sense of immutability evaporated as the long-term implications of ERTA became clear. The fear of ever increasing budget deficits, even with the administration's proposed 1983 budget cuts, has galvanized the will of the Congress to do something that it has always hesitated to do: raise taxes.