Write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas. For this Discussion Board, ple

Write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas. 

For this Discussion Board, please complete the following:

Tax code changes in the United States occur for several reasons, reflecting both economic and social policy objectives. The following are some key reasons behind tax code changes:

• Economic stimulus and growth
• Revenue generation
• Fairness and equity
• Simplification and efficiency
• Closing loopholes and combating tax avoidance
• Social and policy objectives

Overall, tax code changes in the United States are driven by a combination of economic, social, administrative, and international considerations. These changes aim to balance the need for revenue with fairness, efficiency, and the promotion of economic growth and societal well-being.

Possible tax code changes to consider are as follows:

• Increase or decrease in tax rates for different income brackets
• Changes in standard deduction or itemized deductions
• Modifications to tax credits or eligibility criteria
• Introduction of new tax incentives or benefits
• Revisions to retirement savings contributions or penalties
• Alterations in estate tax exemptions or rates

Using what you have learned this week, address the following:

• Choose 1 potential tax code change that you find significant or relevant.
• Explain how this change would or did impact individual taxpayers.
• Choose whether you agree or disagree with the tax code change you selected, and explain your choice.

Deliverable Length: 200–250 words