Deficits, Debt, and the New Politics of Tax Policy [Hardcover]

Ippolito provides a historical account of US tax policy that emphasizes the relationship between taxes and budget components.This book is about taxes and national politics in the United States. It provides an accessible treatment of what comprises the federal tax system and how it was created. It also analyzes how the tax wars that have been waged since the 1980s affect our ability to deal with the serious deficit and debt problems the nation now faces. The book is aimed at readers who are interested in the fiscal dimension of tax policy but not particularly knowledgeable about tax law.This book is about taxes and national politics in the United States. It provides an accessible treatment of what comprises the federal tax system and how it was created. It also analyzes how the tax wars that have been waged since the 1980s affect our ability to deal with the serious deficit and debt problems the nation now faces. The book is aimed at readers who are interested in the fiscal dimension of tax policy but not particularly knowledgeable about tax law.The Constitution grants Congress the power to lay and collect taxes, duties, imposts, and excises. From the First Congress until today, conflicts over the size, role, and taxing power of government have been at the heart of national politics. This book provides a comprehensive historical account of federal tax policy that emphasizes the relationship between taxes and other components of the budget. It explains how wars, changing conceptions of the domestic role of government, and beliefs about deficits and debt have shaped the modern tax system. The contemporary focus of this book is the partisan battle over budget policy that began in the 1960s and triggered the disconnect between taxes and spending that has plagued the budget ever since. With the federal government now facing its most serious deficit and debt challenge in the modern era, partisan debate over taxation is almost completely divorced from fiscal realitl£>