Academic journal article Journal of Accountancy

AICPA Poll Casts Doubt on Tax Proposal Effectiveness

Academic journal article Journal of Accountancy

AICPA Poll Casts Doubt on Tax Proposal Effectiveness

Article excerpt

A nationwide survey of 1,400 CPA tax practitioners conducted by the American Institute of CPAs'tax division disclosed that many tax proposals now under consideration would do little to stimulate economic growth. In the survey, the tax practitioners were asked to rate a series of tax proposals' effectiveness on a scale of one to four, from very effective to not effective.

In releasing the survey results, Leonard Podolin, chairman of the AICPA tax division executive committee, said, "While the CPAs surveyed are neither economists nor politicians, their solid agreement with some others who have commented on the current tax proposals is based on their wide range of experience and constant contact with their clients, the taxpayers of America' "

Among the proposals rated as least effective, only 17% of the tax practitioners thought a proposal to tax capital gains at rates 5% below top marginal rates would be an effective way to stimulate the economy. …

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