April 12, 2013

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What do tax policy experts think about US tax policy?

Large majorities of tax policy experts in the U.S. favor a graduated personal income tax, taxing long-term capital gains as ordinary income, a net income tax on corporations and extending the retail sales tax to services.

These are among the findings of a nonpartisan survey conducted by the University of Michigan's Office of Policy Research and the National Tax Association that polled 415 NTA members on their opinions regarding U.S. tax policy. The survey is part of a year-long project to mark this year's 100th anniversary of the U.S. federal income tax.

Some of the 100 survey questions related to the respondents' personal views about tax equity, such as the degree of "progressivity," while others dealt with their views about the to taxation and the effective structure of various tax systems. The NTA membership is comprised of tax in business and consulting, government and academia.

Among the highlights of the survey responses, arranged by policy categories:

Rate structure of the personal (individual) income tax

Incentive/supply-side effects of tax rates
Tax treatment of capital income vs. labor income
Itemized deductions
Social Security and taxes
Corporate income taxation

Consumption-based taxes

Other taxes (some of these sometimes argued to be "corrective taxes")
Taxes and inequality (income and wealth distribution)
Tax policy and deficits
Fiscal federalism (relationships among different levels of government)
Tax administration/compliance
Later this year, the OTPR and NTA plan to survey members of both houses of Congress and the general public on a small subset of these 100 questions asked of NTA membership. They will release further analysis of the responses from all three groups, representing the opinions of tax policy experts, tax policymakers and the tax-paying public—highlighting the particular tax issues where the biggest similarities and differences across these groups lie.

This analysis will be presented as part of a special event on the 100th anniversary of the U.S. , co-sponsored by the OTPR, NTA and the Urban-Brookings Tax Policy Center, to be held Sept. 10, 2013, at the Capitol Visitors Center in Washington, D.C.

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