| 00:00:33 |
Gleckman, Howard - Resident Fellow
GOOD AFTERNOON, EVERYBODY. WELCOME TO THE URBAN INSTITUTE FIRST TUESDAY WHERE WE CELEBRATE THE 100th ANNIVERSARY OF THE INCOME TAX. MY NAME IS HOWARD...
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| 00:03:20 |
Thorndike, Joseph J. - Director
PUBLICAFFAIRS@URBAN.ORG. >> I'M GLAD TO SEE THERE ARE REASONABLE A LOT OF PEOPLE YEAR. IDES OF PEOPLE I HAVE THE WORST POSSIBLE JOB FOR COCKTAIL PARTY....
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| 00:12:42 |
Steuerle, C. Eugene - Senior Fellow
TAX REFORM. >> ABOUT 65 YEARS OF TAX POLICY -- I HAVE EIGHT MINUTES TO DISCUSS ABOUT 35 YEARS. I ALSO WOULD LIKE TO DIVIDE UP THE POSTWAR ERA INTO THREE...
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| 00:22:04 |
Toder, Eric J. - Co-Director
TOGETHER. THIS HAS TO DO WITH THE MAJOR DEBATE THAT WE HAVE SEEN. >> THANK YOU VERY MUCH. AS YOU HAVE SEEN FROM THE PREVIOUS SPEAKERS, THE INCOME TAX...
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| 00:34:09 |
Olson, Nina E. - National Taxpayer Advocate
FAILED,. >> OKAY, MY RECOMMENDATION IS THAT EVERYBODY READ MY ANNUAL REPORT TO CONGRESS AND THEN DO DO EVERYTHING THAT I RECOMMENDED AND WE WILL BE FINE...
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| 00:45:31 |
Gleckman, Howard - Resident Fellow
YOU. >> I WANT TO ACTUALLY START WITH ERIC'S ISSUES. I THINK SOMETIMES WE THINK ABOUT INCOME TAXES AS A BINARY CHOICE. AND I THINK WE TALK ABOUT THE...
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| 00:46:10 |
Toder, Eric J. - Co-Director
CONSUMPTION TAX. YOU CONTRIBUTE TO YOUR IRA, THE EMPLOYER CONTRIBUTION IS NOT INCLUDED. AND YOU ONLY PAY TAX YOU PULL IT OUT FOR RETIREMENT. IT IS...
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| 00:47:16 |
Gleckman, Howard - Resident Fellow
A LEAP IN TERMS OF THE TIMING. >> THAT'S TRUE, BUT I THINK IN TERMS OF THE TRANSACTION IT IS. >> CAN YOU TELL US LITTLE BIT ABOUT THE DISCUSSION
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| 00:47:32 |
Thorndike, Joseph J. - Director
OF CONSUMPTION OVER THE YEARS AND WHY WAS THIS NEVER GOT ANYWHERE? >> THE INCOME TAX REALLY COMES OUT OF THE TAX REGIME. UP UNTIL THE INCOME TAX, ALL...
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| 00:51:06 |
Olson, Nina E. - National Taxpayer Advocate
YOU KNOW, I THINK FROM A PUBLIC PERCEPTION, WE HAVE ASKED PEOPLE TO SEND IN THEIR COMMENTS. I AM ALWAYS FASCINATED. PEOPLE SAY, WHAT WE NEED TO DO IS...
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| 00:52:02 |
Steuerle, C. Eugene - Senior Fellow
CONSUMPTION TAX. >> IF I GO ALL THE WAY BACK TO THE HISTORY OF CONVERSION, TO AN INCOME TAX, WHAT REALLY MAKES THIS POSSIBLE IS THE GROWTH OF THE MODERN...
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| 00:54:41 |
Gleckman, Howard - Resident Fellow
IN 1937. FRANKLIN ROOSEVELT SAID
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| 00:54:46 |
Q & A
THE FOLLOWING. IF CONGRESS PASSES THE TAX ACT IN GOOD FAITH, AND THERE ARE HIGH-PRICED LAWYERS, IS THAT THE MORAL THING TO DO? EVEN IF IT IS A LEGAL...
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| 00:55:31 |
Toder, Eric J. - Co-Director
START? >> OKAY, YOU USED THE WORD LOOPHOLE. IT'S A CHARGED WORD. IF YOU LOOK AT WHAT THEY ARE, THE EXEMPTION OF EMPLOYER CONTRIBUTIONS, MORTGAGE INTEREST...
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| 00:56:52 |
Thorndike, Joseph J. - Director
DEBATE CHANGES A LOT AFTER WORLD WAR II. BEFORE THE TAXES, EVERY LOOPHOLE BELONGS TO A A RICH PERSON AND NOT TO A REGULAR PERSON. VERY EASY TO DEMONIZE...
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| 00:59:14 |
Steuerle, C. Eugene - Senior Fellow
RATES YOU SEE THIS ENVIRONMENT CHANGING IN ANY WAY? >> THERE ARE TWO ISSUES, ONE IS DO YOU WANT THE SPENDING THAT YOU GOT, AND SECOND, DO YOU WANTED...
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| 01:02:03 |
Olson, Nina E. - National Taxpayer Advocate
MADE THE .. THAT THERE ISN'T ENOUGH MONEY IN THESE SO-CALLED LOOPHOLES. PEOPLE WOULD DO STRUCTURAL TAX REFORM, WHICH IS WHAT WE SO PROFOUNDLY NEED. ...
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| 01:04:13 |
Gleckman, Howard - Resident Fellow
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| 01:04:17 |
Q & A
CAN GENERATE THE REVENUE WE NEED TO PAY FOR THE GOVERNMENT WE SEEM TO WANT. >> LET ME REPHRASE THAT. IF YOU'RE ASKING IS WHAT I COULD THE MAJOR TAX...
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| 01:04:49 |
Thorndike, Joseph J. - Director
TAX SYSTEM, I AM NOT OPTIMISTIC FOR THE FORESEEABLE FUTURE THAT WERE GOING TO SEE ANY OF THAT. WHAT HISTORY TEACHES ME IS A LESSON THAT TAX REFORM IS...
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| 01:05:57 |
Steuerle, C. Eugene - Senior Fellow
INCOME TAX SUPPORT AS IT IS? >> THE INCOME TO SUPPORT ABOUT VALUE-ADDED TAX AND REASONS YOU MIGHT WANT TO DO IT. MY SENSE IS IF HE COULD'VE VALUE-ADDED...
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| 01:08:21 |
Toder, Eric J. - Co-Director
REFORM AND I THINK THERE'S A LOT OF RAISE THE TAXES CAN BE MADE SIMPLER, BUT SHE CAN'T HAVE A SIMPLE INCOME TAX AND A COMPLEX IS THIS WORLD, BUT WE...
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| 01:09:09 |
Olson, Nina E. - National Taxpayer Advocate
CAMP IS ACTUALLY BEGUN TO PROPOSE SOME OF THIS. MAY NOT COME YOU GET THE LAST WORD ON THIS. CAN INCOME TAX SUPPORT THE GOVERNMENT? >> WHEN YOU SAY...
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| 01:10:44 |
Gleckman, Howard - Resident Fellow
A DISASTER. >> WHAT THEY GIVE YOU A SECOND CHOICE QUESTIONS. THOSE OF YOU WATCHING ON THE WEB, I NEED TO DO TO GET A QUESTION IS E-MAILED TO PUBLIC...
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| 01:11:08 |
Q & A
A QUESTION. TO THE GENTLEMAN IN THE BACK >> YES, IS THERE ANY EVIDENCE THAT THIS STEEP REDUCTION IN TOP MARGINAL TAX RATES HAS REDUCED THE PROPENSITY...
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| 01:11:31 |
Olson, Nina E. - National Taxpayer Advocate
FOR YOU. >> ACTUALLY WHAT STRUCK ME IS THAT EVASION IS CONSTANT THROUGHOUT AND THROUGHOUT THE HISTORY OF THE INTERNAL REVENUE CODE. I THINK THAT THE...
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| 01:12:26 |
Toder, Eric J. - Co-Director
FOR ERIC. I THINK IT'S VERY COMPLEX TO DRIVE PEOPLE'S NONCOMPLIANCE. >> I HAD AN OBSERVATION OF AVOIDANCE THAT SENSE APPEARED AT THE 1970s AND 60s,...
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| 01:13:33 |
Steuerle, C. Eugene - Senior Fellow
CURRENTLY POINTED TO WHEN HE SAYS WE HAVE MORE RECOGNITION OF INCOME, BUT I HEARING SOME LEVELS. IT'S UNEQUAL DISTRIBUTION IN GENERAL, THE SUMMIT THAT...
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| 01:14:57 |
Q & A
THEIR OWN MONEY AND THAT THEY AUTOMATICALLY ASSURED THE SIZE OF THIS STATE, WHICH IS PER SE GOOD FOR MORAL AND ECONOMIC REASONS AND DOING THE SAME IDENTICAL...
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| 01:15:30 |
Olson, Nina E. - National Taxpayer Advocate
PERSONAL EXPERIENCE TO EXPLAIN TO PEOPLE THAT HE TAX EXPENDITURE, AT LEAST MANY OF THEM ARE SIMPLY ENDING. >> IT NOW, I JUST HAVE TO SAY, I THINK EVERYONE...
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| 01:16:15 |
Thorndike, Joseph J. - Director
IT. >> CAN ASK YOU ABOUT THE HISTORY OF THIS, HOW DID THIS HAPPEN? >> WHAT IS REALLY CHANGE TO YOUR ANOTHER'S TODAY'S, ARE USED TO BE A BIPARTISAN CONSENSUS...
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| 01:17:40 |
Steuerle, C. Eugene - Senior Fellow
HISTORICAL EXPLANATION. IF THE SNAKE BACK IN A BROAD HISTORY OF TAXATION UNTIL A VERY MODERN ERA, TAXATION WAS SUPPORTING PUBLIC GOODS, HIGHWAYS AND POLICE...
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| 01:19:22 |
Olson, Nina E. - National Taxpayer Advocate
30 YEARS. HE CAN THINK OF A BETTER WAY TO DO IT. I'D LIKE TO. >> ONE OF THE THINGS WE'VE BEEN THINKING ABOUT DOING GOES BACK TO MY QUIXOTIC QUEST OR...
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| 01:20:33 |
Q & A
YES, MA'AM. >> HOLD ON, WAIT FOR THE MICROPHONE. >> HI, MY NAME IS LAVONNE FISCHER. IF ANYONE ON THE PANEL HAVE AN OPINION WHETHER OR NOT THE RESTRUCTURING...
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| 01:21:42 |
Steuerle, C. Eugene - Senior Fellow
OF THE HUNDREDS OF PHASEOUT IN THE TAX CODE. >> SOME OF THESE PHASEOUTS ARE NOTHING MORE THAN INCOME TAX FOR PEOPLE GETTING BENEFITS. AT HER AND ANOTHER...
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| 01:23:17 |
Gleckman, Howard - Resident Fellow
CONGRESS. >> OKAY, WE ARE ABOUT -- [INAUDIBLE] >> WERE ABOUT OUT OF TIME. THANK YOU FOR COMING. TAXING THE RICH AND THE AGE OF FDR. CANDIDATE WWW.YOU...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.