Adam Smith's Canons of Taxation from his book Wealth of Nations first published in 1776. The four

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Question:

Adam Smith's Canons of Taxation from his book Wealth of Nations first published in 1776. The four canons are:

Equality
Certainty
Convenience
Economy

Do you feel the current federal tax code is meeting these canons and why or why not? Please view Federal Tax Laws Keep Piling Up in the links library to assist you in formulating your answer.

You are required to research the tax policy changes implemented by the Tax Cut and Jobs Act (see research paper assignment for further clarification). Although you may not have completed much research for this paper yet, do you feel you will find adherence to these time-tested principles of taxation? Please share any information related to these canons you have found thus far and support the reasoning behind your viewpoint.

Your text touches on some of the issues surrounding sales tax and the now famous Supreme Court case Quill Corporation vs. North Dakota. With consumer purchasing changes and the availability of e-commerce Quill has become outdated. In the case of South Dakota vs. Wayfair, on June 21, 2018, The United States Supreme Court ruled that states can mandate, within parameters, that retailers collect and remit sales tax on transactions within the state not regarding physical presence. Use the following link to access AICPA's background and outlook post-South Dakota vs. Wayfair. Scroll down to the bottom of the page for links to additional information. LinkLinks to an external site. What are your feelings about sales tax and e-commerce? Do you live in a state that includes an online sales tax on the individual return? How do you feel about the inequity between brick-and-mortar stores that are required to collect sales tax and online vendors that do not? Feel free to express your personal feelings or you may just want to discuss the effect on state revenues.