100 Million Unneccesary Returns - A Fresh Start for the U.S. Tax System

According to Graetz, the current U.S. income tax system is unfair and too complicated resulting in tax compliance going down. The current status quo [of the U.S. income tax system] is not stable, he said. And then, he proceeded to outline his proposal to eliminate 100 million tax returns annually. This well-researched system would remove the need for annual filing for those making less than $100,000 per annum (joint)/$50,000 per annum (individual) and imposing a 10-15% VAT nationwide. Introduction by Professor Alan Watson