Even before the financial crisis of 2008, the federal government faced a bleak fiscal future of rising deficits due to Social Security and Medicare costs. Now, the grave budgetary outlook, along with the popular view that the tax code is overly complex and inefficient, will necessitate significant changes in tax policy in the near future. Against this backdrop, this course describes the basic economics of taxation, examines the major features of the United States federal tax system, and analyzes the most important reform proposals. The course aims to give students a comprehensive view of how the federal government raises revenue and to provide substantive knowledge about tax policy proposals that are likely to dominate debate over the next decade.
