If American's Really Understood

As each year draws to a close, it seems that April 15th is just around the corner and Americans begin preparing to file their income tax returns. However, how many Americans actually understand the basis and origin of income tax? John O. Fox's book, If Americans Really Understood the Income Tax: Uncovering Our Most Expensive Ignorance, offers answers for this, and other tax questions. He traces the history of income tax back to the early twentieth century, compares the flat tax with marginal rates, and examines the values behind our income tax laws.

In the preface, Fox explains that, "Although we pay what is called an income tax, one special rule after another, favoring one taxpayer over another, carves out so many holes in the system that as critics have noted, the system looks like Swiss cheese." Fox urges that, "How we tax ourselves establishes and reflects many of our nation's values, Income taxation must be fair if our nation is to be fair." His book, If Americans Really Understood the Income Tax: Uncovering Our Most Expensive Ignorance, is an excellent resource for any taxpayer interested in learning more about what our tax laws actually accomplish.

Prior to becoming a professor at Mt. Holyoke College in Massachusetts, Fox was a tax and business attorney in Washington, D.C. He has written articles published by The Boston Herald, The Boston Sunday Globe, and most recently, The Washington Post.

This does not constitute an endorsement by us of the author or the book. The opinions expressed are solely those of the author and may or may not be representative of our opinion.

Copyright © 2006 Liberty Publishing, Inc. All rights reserved.
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