Justus S. Hotchkiss Professor of Law Michael Graetz takes on the U.S. tax code, suggesting that the American system should be completely restructured. With the current tax code measuring four times longer than War and Peace, and the instructions for Form 1040 alone counting more than 100 pages long, Graetz argues that the modern American tax system is a confusing, inconsistent tangle of code that has failed to keep pace with the country’s changing economy. Graetz proposes restructuring the tax system by replacing the income tax for the majority of Americans with a value-added tax. 100 Million Unnecessary Returns details this plan and Graetz’s argument that this type of overhaul would be simpler, less costly to comply with, and more favorable to savings, investments, and economic growth for individual families and the country as a whole.

Listen to an interview with Michael Graetz about 100 Million Unnecessary Returns.