Today at Capital Commentary I discuss the size and scope of the tax code in the US relative to its basic purposes.
In “Back Door Social Engineering,” I argue, “When governments run huge deficits in part because of the complexity of its tax system and the ability of people and institutions to engage in large-scale (and legal) tax avoidance, there is something deeply wrong with the system.”
The basic purpose of taxes is to raise money for the government, not to determine social behavior. We have laws for that.
Read the whole thing here.