Tax Policy

3 Credits · Level: Graduate, Juris Doctor

Tax Policy will teach students the principles of tax policy analysis through a broad outline of extant tax policies and practices, the economic effects of various tax policies, and the political environment surrounding tax reform. The course will begin by establishing an understanding of the features of taxes, the types of taxes most commonly used (and some less-commonly used), and the various reasons for taxation. It will offer an overview of the United States system of taxation, to establish a practical baseline for detailed analysis of the economic effects of taxation, the impact of taxation on equality, and tax expenditures. Students will learn about behavioral effects, economic incidence, distributional effects, and macroeconomic effects of various tax policies. Students will also learn about how to properly classify and analyze tax expenditures, and make determinations regarding how appropriate tax policy is for carrying out spending programs in different scenarios. The class will then proceed to review tax administration and enforcement strategies and their economic impacts. It will then proceed to a discussion of common misconceptions about tax policy, and an overview of the policy process surrounding tax legislation and regulation. The class will conclude with an extended examination of a variety of proposals for tax reform in the US, including to what extent the Tax Cuts and Jobs Act meets criteria for reform, and an analysis of its prospective impacts.