A New Understanding of Tax

Written by: Edward J. McCaffery I. INTRODUCTION A. Loomings Perhaps we should blame it all on Mill. A great deal and possibly all of the mind-numbing complexity of America’s largest and least popular tax follows from the decision to have a progressive personal income tax[2] Proponents wanted an individual income tax notwithstanding — indeed, in large part because of — such a tax’s “double taxation” of savings. This double-tax argument…