This seminar will deal with tax reform. The seminar will begin with an examination of whether the current income tax has reached a state that is beyond reform. It will then explore whether a consumption tax would be an improvement over the current income tax and if so what kind of consumption tax should be adopted to replace the income tax. Prospective students should note that consumption tax aspects of the current income tax, particularly those involving realization and non-recognition, are often the focus of tax planning under the current tax system and attention will be devoted to tax planning ideas and the role that these consumption tax provisions play in devising tax savings plans. Students will be required to write short papers for discussion purposes on selected portions of the assigned reading and a longer paper of certification length and quality, which may be used by students to satisfy the Advanced Writing Requirement. P: Income Taxation.