Taxation will always impose some level of burden on an economy’s performance, but that harm can be minimized if policymakers resist the temptation to use the tax code for social engineering, class warfare and other extraneous purposes. A principled tax system is an ideal way for advancing a state’s economic interests and promoting prosperity for its residents.
The goal of American tax policy should be to raise revenue for functions of government in a way that minimizes distortions, so as to grow the overall economy and facilitate commerce.
Guiding principles of taxation
The fundamental principles presented here provide guidance for a neutral and effective tax system; one that raises needed revenue for core functions of government, while minimizing the burden on citizens.
Benefits of a principled tax burden
Since taxes lower the economic welfare of citizens, policymakers should try to minimize the economic and social problems that taxation imposes. Citizens then directly gain the benefits of a low tax burden. These benefits are summarized below:
Amended by the Task Force on Tax and Fiscal Policy at the Spring Task Force Summit on April 23, 2010.
Amendments approved by the ALEC Board of Directors on June 3, 2010.
Re-Adopted by the Task Force on Tax and Fiscal Policy at the Spring Task Force Summit on May 15, 2015.
Approved by the ALEC Board of Directors on June 29, 2015.
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