Taxation in the United States

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The United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts.


  • Well, that’s the ordinary income. These great fortunes were not made through ordinary incomes. So you probably have to look to the capital gains rate and the estate tax if you want to, you know, create more equity there.
  • There's a mystic quality about our tax system. No matter how bad it may be from the technical standpoint, it has a vitality because of the very high level of compliance
  • I suspect a complex society requires a complex tax law.
    • Sheldon S. Cohen, IRS commissioner at the time Brooks wrote his article, on why he believed prospects for simplifying the tax code were minimal.

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