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Economics

2007

ExpressO

Taxation-Federal Income

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Time To Step Up: Modeling The African American Ethnivestor For Self Help Entrepreneurship In Urban America, Roger M. Groves Feb 2007

Time To Step Up: Modeling The African American Ethnivestor For Self Help Entrepreneurship In Urban America, Roger M. Groves

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Almost $6 billion in taxes paid by the American people have been rather ubiquitously placed in the hands of a federal subsidy program for investors in low income communities. The subsidy is in the form of a tax credit. The program is entitled the New Markets Tax Credit (“NMTC”) initiative. Under the program, the tax credit is used to lure investors to provide equity capital into low income areas, urban and/or rural (i.e. a new market for equity funding). According to my companion law review article (Florida Tax Review, Spring, 2007; The Florida Tax Review was ranked 1st among tax …


Imagining A Progressive And Comprehensive Consumption Tax, Sean K. Raft Jan 2007

Imagining A Progressive And Comprehensive Consumption Tax, Sean K. Raft

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The income tax system has become quite a mess. Unfortunately, the brunt of that mess falls primarily on the backs of the individual taxpayer, who is required to sift through the tens of thousands of pages of instructions and tax rules just to calculate, file, and pay what they owe. The filing burden and costs of compliance are already exorbitant, but they are only increasing.

In response to the complaints over the increasing complication, economists and tax scholars have imagined ways to improve or replace the income tax. Yet, the alternatives are either regressive or fail to generate enough revenue …