Download or read book Progressive Consumption Taxation written by Robert Carroll and published by Rowman & Littlefield. This book was released on 2012 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors observe that consumption taxation is superior to income taxation because it does not penalize saving and investment and propose that the U.S. income tax system be completely replaced by a progressive consumption tax. They argue that the X tax, developed by the late David Bradford, offers the best form of progressive consumption taxation for the United States and outline concrete proposals for the X tax's treatment of numerous specific economic issues.
Download or read book Replacing the Income Tax with a Progressive Consumption Tax written by Daniel Shaviro and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shifting from an income tax to a consumption tax would offer major simplification advantages. Even if Congress created as many preferences and other special rules as under the existing income tax, the massive set of complications that relate to realization and to the taxation of financial transactions would largely be eliminated. The main (though not the only possible) reason for opposing such a shift is the concern that it would require reducing progressivity. This article argues, however, that the capacity of a consumption tax to achieve progressivity comparable to that of an income tax is widely underestimated. In addition, this report discusses the choice between use of the origin basis and the destination basis in taxing cross-border transactions. A consumption tax can use either method, but an income tax is practically compelled to use the origin basis. Use of the destination basis would eliminate transfer pricing issues, although in their place it would create various problems that an origin-basis tax avoids, such as the need for border adjustments (e.g., tax rebates for exports). Contrary to popular perceptions, however, use of the destination basis would not constitute an export subsidy, and thus ought not to be banned under the General Agreement on Tariffs and Trade.
Download or read book The Death of the Income Tax written by Daniel S. Goldberg and published by Oxford University Press. This book was released on 2013-05-30 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Death of the Income Tax explains how the current income tax is needlessly complex. Daniel Goldberg proposes that the solution to the problems of the current income tax is completely replacing it with a progressive consumption tax collected electronically at the point of sale.
Download or read book Replacing the U S Income Tax with a Progressive Consumption Tax written by Don Fullerton and published by . This book was released on 1982 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the welfare consequences of changing the current U.S. income tax system to a progressive consumption tax. We compute a sequence of single period equilibria in which savings decisions depend on the expected future return to capital. In the presence of existing income taxes, the U.S. economy is assumed to lie on a balanced growth path. With the change to a consumption tax, individuals save more and initially consume less. As the capital stock grows, consumption eventually overtakes that of the original path, and the economy approaches the new balanced growth path with higher consumption and a greater capital stock. Both the transition and the balanced growth paths enter our welfare evaluations. We find that the discounted present value of the stream of net gains is approximately $650 billion in 1973 dollars, just over one percent of the discounted present value of national income. Larger gains occur if further reform of capital income taxation accompanies the change. We examine the sensitivity of the results, both to the design of the consumption tax and to the values of elasticity and other parameters. The paper also contains estimates of the time required to adjust from one growth path to the other.
Download or read book The Death of the Income Tax written by Daniel S. Goldberg and published by Oxford University Press. This book was released on 2013-05-15 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Death of the Income Tax explains how the current income tax is needlessly complex, contains perverse incentives against saving and investment, fails to use modern technology to ease compliance and collection burdens, and is subject to micromanaging and mismanaging by Congress. Daniel Goldberg proposes that the solution to the problems of the current income tax is completely replacing it with a progressive consumption tax collected electronically at the point of sale.
Download or read book Dynamic General Equilibrium Impacts of Replacing the US Income Tax with a Progressive Consumption Tax written by Don Fullerton and published by . This book was released on 1980 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Replacing the UK Income Tax with a Progressive Consumption Tax written by John Hutton and published by . This book was released on 1994 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The progressive Consumption Tax written by Robert E. Lucore and published by . This book was released on 1994 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Progressive Consumption Tax for Individuals written by Mitchell L. Engler and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfaction with the existing income tax has increased in recent years. Practical problems with the income tax base create numerous loopholes, increasingly exploited by well-advised taxpayers. For the most part, these gaps are attributable to the income tax's "realization" requirement, under which taxpayers report gains and losses as "realized" through market transactions. A consumption tax appeals as a response to these significant current loopholes since "realization" loses its significance under a consumption-based tax. The consumption tax's appeal has been further enhanced by the recent and growing recognition of the narrow difference between income and consumption taxes, assuming away practical problems. Contrary to the long-standing belief that the income tax imposes an excess tax burden on all investment return, recent scholarship establishes that, relative to a pure income tax, the consumption tax relinquishes the tax burden on only the risk-free investment return. Accordingly, the consumption tax addresses the loopholes while relinquishing relatively little. Despite such threshold appeal, a consumption tax has not yet replaced the income tax. This Article descriptively explains this failure through an analysis of the leading progressive consumption tax proposal: the cash flow tax. The Article recaps the serious offsetting concerns raised by commentary on the cash flow tax, exhibiting how such concerns relate primarily to the cash flow tax's wholesale removal of current tax on saved wages. Specifically, the lack of any current tax on saved wages raises tax avoidance, transition, and revenue concerns. In addition, saving decisions could be impacted in undesirable ways under a cash flow tax with progressive rates. Accordingly, the case for the consumption tax has been weakened by these concerns. The normative portion of this Article then presents a new progressive consumption tax proposal: a hybrid approach. Like the current income tax, the hybrid approach generally would tax wages, even if saved for future consumption. In addition, the hybrid approach would utilize a modified cash flow approach to tax the excess of (i) savings withdrawals for consumption, over (ii) previously saved wages, increased by the risk-free return thereon. As a result, the hybrid approach would capture the benefits of consumption taxation without the disabling problems of the cash flow tax. As discussed in the Article, the hybrid approach achieves this result since (i) the wage tax component addresses the cash flow tax concerns, and (ii) the modified cash flow component addresses the income tax problems.
Download or read book Replacing the UK Income Tax with a Progressive Consumption Tax written by John P. Hutton and published by . This book was released on 1994 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Encyclopedia of Taxation Tax Policy written by Joseph J. Cordes and published by The Urban Insitute. This book was released on 2005 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: "From adjusted gross income to zoning and property taxes, the second edition of The Encyclopedia of Taxation and Tax Policy offers the best and most complete guide to taxes and tax-related issues. More than 150 tax practitioners and administrators, policymakers, and academics have contributed. The result is a unique and authoritative reference that examines virtually all tax instruments used by governments (individual income, corporate income, sales and value-added, property, estate and gift, franchise, poll, and many variants of these taxes), as well as characteristics of a good tax system, budgetary issues, and many current federal, state, local, and international tax policy issues. The new edition has been completely revised, with 40 new topics and 200 articles reflecting six years of legislative changes. Each essay provides the generalist with a quick and reliable introduction to many topics but also gives tax specialists the benefit of other experts' best thinking, in a manner that makes the complex understandable. Reference lists point the reader to additional sources of information for each topic. The first edition of The Encyclopedia of Taxation and Tax Policy was selected as an Outstanding Academic Book of the Year (1999) by Choice magazine."--Publisher's website.
Download or read book Simple Fair and Pro growth written by United States. President's Advisory Panel on Federal Tax Reform and published by . This book was released on 2006 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The official account of the advisory panel formed by Presi-dent George W. Bush to identify major problems in the U.S.Federal Tax Code and to recommend options to make the codesimpler, fairer and more conducive to economic growth. Thepanel's report was submitted to U.S. Secretary of the Trea-sury John W. Snow on Nov. 1, 2005. Chaired by Connie MackIII, the panel recommended 2 reform options: the SimplifiedIncome Tax Plan & the Growth & Investment Tax Plan.
Download or read book The Role of Tax deductible Saving in the Transition from a Progressive Income Tax to a Progressive Consumption Tax written by Michael J. Daly and published by . This book was released on 1986 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Falling Behind written by Robert Frank and published by Univ of California Press. This book was released on 2013-09-14 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a timely new foreword by Robert Frank, this groundbreaking book explores the very meaning of happiness and prosperity in America today. Although middle-income families don't earn much more than they did several decades ago, they are buying bigger cars, houses, and appliances. To pay for them, they spend more than they earn and carry record levels of debt. Robert Frank explains how increased concentrations of income and wealth at the top of the economic pyramid have set off "expenditure cascades" that raise the cost of achieving many basic goals for the middle class. Writing in lively prose for a general audience, Frank employs up-to-date economic data and examples drawn from everyday life to shed light on reigning models of consumer behavior. He also suggests reforms that could mitigate the costs of inequality. Falling Behind compels us to rethink how and why we live our economic lives the way we do.
Download or read book Success and Luck written by Robert H. Frank and published by Princeton University Press. This book was released on 2017-09-26 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine. In Success and Luck, bestselling author and New York Times economics columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success—and why that hurts everyone, even the wealthy. Frank describes how, in a world increasingly dominated by winner-take-all markets, chance opportunities and trivial initial advantages often translate into much larger ones—and enormous income differences—over time; how false beliefs about luck persist, despite compelling evidence against them; and how myths about personal success and luck shape individual and political choices in harmful ways. But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year—more than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone. If this sounds implausible, you'll be surprised to discover that the solution requires only a few, noncontroversial steps. Compellingly readable, Success and Luck shows how a more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies.
Download or read book The Flat Tax written by Robert E. Hall and published by Hoover Press. This book was released on 2013-09-01 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new and updated edition of The Flat Tax—called "the bible of the flat tax movement" by Forbes—explains what's wrong with our present tax system and offers a practical alternative. Hall and Rabushka set forth what many believe is the most fair, efficient, simple, and workable tax reform plan on the table: tax all income, once only, at a uniform rate of 19 percent.
Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
