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Repeal Tax Incentives For Esops, Andrew Stumpff, Norman Stein
Repeal Tax Incentives For Esops, Andrew Stumpff, Norman Stein
Norman P. Stein
The proposal would repeal special tax incentives given to employee stock ownership plans, as well as the exemption granted to those plans from the investment diversification requirement of the ERISA.
The proposal is made as a part of the Shelf Project, a collaboration among tax professionals to develop - and perfect proposals to help Congress when it is ready to raise revenue. Shelf Project proposals are intended to raise revenue without raising rates because the best systems have the lowest feasible tax rates and taxes that are unavoidable. Shelf projects defend the tax base and improve the rationality and efficiency …