TAX 6875 Fall 2010 Schmitt Discussion Questions –Day 1 Steuerle: CH. 1 1) What is the primary purpose of having taxes? 2) What is the difference between the budget deficit and the federal debt? 3) Is a tax cut really a tax cut if it increases the federal debt? 4) Does it make sense to talk about tax policy without talking about government spending? 5) What is a tax expenditure? Give a few examples of tax expenditures. Steuerle: CH. 2 1) What is horizontal equity? 2) What is vertical equity? Is progressivity justified? How much? 3) What is an efficiency loss as it relates to taxation? 4) What is individual equity? 5) What are the causes of complexity in the tax code? Is complexity good or bad? Explain. 6) What is the process for tax legislation to be passed into law?
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