Question: Section 61 indicates that gross income from whatever source derived is taxable. Select a type of income that you know to be taxable under Section

Section 61 indicates that gross income from whatever source derived is taxable. Select a type of income that you know to be taxable under Section 61 and prepare a cogent, academic, policy argument for why it should not be taxed. Be sure to incorporate the following elements:

Your cogent, academic, policy argument

How Adam Smiths elements of taxation are impacted by the decision to not tax the type of income you picked.

Who in society will win or lose based on the change in policy.

At least one unintended consequence of the change in policy.

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