This exercise gives you the freedom to take what you have learned about tax policy this week and apply it to the tax of your choice. You will assess the tax you choose, and make an argument for either retaining the tax as is, or for reforming it.

Directions:
Pick a tax, any tax! It may be at the state, local or federal level. It may be on the individual or corporation. Examples include income tax, payroll tax, capital gains tax, sales tax, property tax etc. If you are unsure about your choice, please feel free to double-check with me.
1. Briefly describe the tax as it currently operates. Note, you may make the case for a tax which does not currently exist but you think should. In this case, it will be important to use examples from other countries to make your case.
2. Assess the tax on equity grounds
3. Assess the tax on efficiency grounds
4. Make a case either for the retention of the tax as it operates currently or for its reform. Note, if you are arguing for the complete abolition of an existing tax, you will have to propose an alternative revenue source or explain why this is not necessary.