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Tax reform advocate to speak on overhaul of system

April 10, 2008

KALAMAZOO--A plan to replace federal taxes with a national retail sales tax and a tax on incomes above $1 million is the topic of a free public lecture from 1:30 to 3 p.m. Friday, April 18, in Room 3250 of Schneider Hall at Western Michigan University.

Dr. Christopher Korth, WMU professor of finance, will speak on "Sensible Tax Reform: Fair, Simple and Effective." He will discuss his proposal to reform the federal tax system and also provide an overview of his upcoming book, which holds the same title as the lecture.

Korth proposes simplifying the current tax system, including eliminating taxes on business, social security and Medicare and replacing them with a single-rate national sales tax with rebates for low-incomes. He also proposes only taxing incomes above $1 million, with all deductions and tax credits eliminated for incomes above that amount, with the exception of charitable donations.

"Our current tax system is an unmitigated disaster. It hurts both companies and individuals. It's incredibly unfair and complicated and hurts the economy and the American people. We need a very new system of taxation," Korth says.

He joined the WMU faculty in 1994 after spending 17 years at the University of South Carolina where he was professor of international business and finance and also director of the Faculty Development in International Business Program. He also was chief international economist with First National Bank of Chicago; director of research at the Institute of International Commerce and assistant professor of international business, both at the University of Michigan; and an assistant professor of international business and economics at Pennsylvania State University. He earned his doctorate in international business and finance from Indiana University.

The author of two books and many articles, Korth is an international and financial consultant with several corporations, specializing in foreign investment, international trade and export promotion. He also lectures frequently in the United States and abroad on topics relating to international investments, international banking, international financial management, export expansion, countertrade and the international debt crisis.

For more information, please contact Dr. Christopher Korth at christopher.korth@wmich.edu or (269) 387-5371.

Media contact: Deanne Molinari, (269) 387-8400, deanne.molinari@wmich.edu

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