Describe each feature, including any benefits and challenges associated with them, and how each feature relates to the others.
2. What is an economic recession, and what are the three major policy strategies for coping with them? Explain how these strategies work and their drawbacks.
3. How does American tax policy compare to other OECD countries? Provide details. Why compare to OECD countries?
4. Overall, would the U.S. tax structure be categorized as regressive, progressive, or proportional? Why is ability to pay a significant constraint on taxation? What are some other constraints?
5. About how often does the U.S. undergo tax reform? Discuss BBLR as a reform strategy.
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