The One Big Beautiful Bill Act introduced several new indivi…
The One Big Beautiful Bill Act introduced several new individual tax deductions, such as deductions for qualified tip income and qualified overtime compensation. These provisions reduce taxable income for certain groups of earners, even if they earn the same total income as others. During the term, we examined Adam Smith’s four canons of taxation, which outline principles of sound tax policy. Which of Smith’s canons does the above mentioned tax policy most directly violate?