Assignment
Write a two-page paper comparing the US tax system to any other national tax system in the world. Select whatever country that interests you. Since this paper is only two pages, keep your discussion very high level. Generally try to touch on the following:
- Individual tax rates
- Corporate tax rates
- Is there another source of revenue to fund the national government other than income taxes (national sales tax, excise tax, etc)
- Collection methods (do they have an agency similar to the IRS)
- Simplicity versus complexity (the US system is complex)
- Does the country run a national budget deficit (the US does)
- Level of compliance (do most citizens voluntarily pay their tax bills)
- Enforcement (the worst offenders in the US can end up in jail).