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Everson: Tax and Financial Reform Through Public Disclosure of Corporate Tax Returns

Washington Post:  A Reform Tool: Tax Returns, by Mark W. Everson (former IRS Commissioner):

Policy responses to our financial-sector meltdown have largely been viewed as patches that do little to address the underlying issues, and they have to some extent generated, rather than reduced, fear and instability. It is tempting to think the answer lies in a return to balanced regulation, but any new regulatory scheme would take, at best, years to put in place and demonstrate its effectiveness. We simply don't have that kind of time. But significantly increasing business transparency could immediately improve the way private-sector entities calibrate risk and deal with each other. A proper starting point is to make corporate tax returns available to the public, not just to the IRS.


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