4 edition of Progressive consumption taxation found in the catalog.
Progressive consumption taxation
Includes bibliographical references and index.
|Statement||Robert Carroll and Alan D. Viard|
|Contributions||Viard, Alan D.|
|LC Classifications||HJ5715.U6 C28 2012|
|The Physical Object|
|ISBN 10||0844743941, 084474395X, 0844743968|
|ISBN 10||9780844743943, 9780844743950, 9780844743967|
|LC Control Number||2011050811|
A highly progressive tax on consumption effectively closes all the loopholes since the income that evaded income tax is taxed as consumption. The elimination of tax distortions and the penalties for savings should appeal to Republicans, the elimination of tax loopholes which benefit the wealthy, and the potential for high taxes on exorbitant. Decem Cardin Introduces a Comprehensive, Progressive, Pro-Growth Approach to Tax Reform. WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee, has introduced groundbreaking legislation that would eliminate income tax liability for most Americans and reduce corporate income tax rate to one of the lowest among industrialized nations.
A progressive tax is a tax in which the average tax rate (taxes paid ÷ personal income) increases as the taxable amount increases. The term "progressive" refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate. The term can be applied to individual taxes or to a tax system as a whole; a year. The main features of the Progressive Consumption Tax are as follows. The PCT would use the credit-invoice collection method. Senator Cardin envisions a 10 percent tax rate but is prepared to modify the rate to achieve revenue neutrality under the restrictive no-growth (static) assumption.
Progressiveness is not inherent in consumption taxes, but it can be introduced with a variety of measures. The examples I give come from the tax system in Greece, which may be one of the most inefficient in the first world, but has been experiment. Under a progressive VAT, all those houses and helicopters would be taxed. The original sin of the US tax code was to tax income not consumption. Once we tax income, we have to tax corporations, since otherwise individuals incorporate to hide their income.
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The book provides a comprehensive and accessible analysis of progressive consumption taxation and should be on the reading list of anyone interested in fundamental tax reform.
(Leonard E. Burman, Syracuse University and the Urban Institute)Cited by: Yet, economic analysis suggests that consumption taxation is superior to income taxation because it does not penalize saving and investment. The authors conclude that the U.S.
income tax system should be completely replaced by a progressive consumption tax/5(2). This book argues that the Bradford X tax, developed by the late David Bradford, offers the best form of progressive consumption Progressive consumption taxation book. The X tax. Progressive Consumption Taxation: The X-Tax Revisited - Kindle edition by Viard, Alan D., Carroll, Robert.
Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Progressive Consumption Taxation: Manufacturer: AEI Press.
Tax experts Bob Carroll and Alan Viard are trying to rectify that with their new book, Progressive Consumption Taxation: The X Tax Revisited, just published by Author: Len Burman. The NOOK Book (eBook) of the Progressive Consumption Taxation: The X-Tax Revisited by Alan D.
Viard, Robert Carroll | at Barnes & Noble. Pages: A progressive tax imposes a greater tax rate on higher-income brackets. They include income taxes, ACA taxes, estate taxes, and earned income tax credits. Regressive taxes are the opposite. Progressive taxation improves the poor’s purchasing power and stimulates the economy.
The Progressive Consumption Tax (PCT) would generate reasonable revenues by taxing the purchase of goods and services, rather than income.
The PCT is modelled after the modern goods and services taxes of Organisation for Economic Cooperation and Development (OECD) countries—countries with advanced economies similar to that of the United States. Progressive Consumption Taxation As mentioned above, consumption taxation does not penalize saving.
Replacing income taxation with consumption taxation would therefore be beneficial. The progressive consumption tax would operate under a system similar to our current tax structure with a few key differences.
You'd report your income and savings to the IRS. Additional Physical Format: Online version: Carroll, Robert. Progressive consumption taxation. Washington, D.C.: AEI Press, © (OCoLC) "Book Review: The Death of the Income Tax: A Progressive Consumption Tax and the Path to Fiscal Reform by Daniel Goldberg (Oxford University Press, Oxford, Uk,Pages)," National Tax Journal, National Tax Association;National Tax Journal, vol.
67(1), pagesMarch. The authors argue that the X tax, developed by the late David Bradford, offers the best form of progressive consumption taxation for the United States.
To achieve progressively, the X tax modifies the value added tax by splitting its consumption tax base into Brand: AEI Press. Thinking outside the box and embracing progressive consumption taxation offers a way to promote both tax fairness and economic growth.
Join Opinion. Get this from a library. Progressive consumption taxation: the X tax revisited. [Robert Carroll; Alan D Viard] -- Alone among developed countries, the United States has no broad-based national consumption tax. Yet, economic analysis suggests that consumption taxation is superior to income taxation because it.
The progressive consumption tax is such a tax. The wealthy family that builds a bigger mansion or stages a more lavish wedding celebration almost surely had no intention of harming others. of using an individual's consumption expenditures as the basis for measuring ability to pay tax.
In this Article, Professor Graetz ex-amines the practical problems of implementing and administering a progressive consumption tax as an alternative to the income tax.
He concludes that although a consumption tax is feasible, practical imple. In a meeting at the AEI Bill Gates points to what economists will argue is the best possible tax system, the progressive consumption tax.
It's worth pointing out the details of quite why. The rate of taxation on $30, of consumption for this family of 4 would be much lower (perhaps 0) than it would be for a family 4 that consumed $60, (perhaps 15%).
I'm just throwing in numbers, but it's not hard to see how the tax rate on consumption could be progressive. Dale W. Jorgenson, Kun-Young Yun, in Handbook of Computable General Equilibrium Modeling, Conclusions. Our overall conclusion is that the most substantial gains from tax reform are associated with equalizing tax burdens on all assets and all sectors and eliminating the progressive taxation of labor income.
Efficient Taxation of Income produces the largest welfare gains of any. Fair Not Flat book. Read 3 reviews from the world's largest community for readers. Everyone knows that the current tax system is unfair. Some of the rich /5(3). Some economists and tax reformers argue that the U.S. should do away with its system of progressive income taxation and introduce a flat levy on consumption.
In his book, "The Real Tax Burden: More Than Dollars and Cents," the author Alan Viard argues that taxing goods and services instead of income and savings would encourage economic growth.2.
Consumption Taxation and Savings Seidman argues that substituting consumption taxes, such as the USA Taxes, for the present income taxes would increase savings rates and thereby promote growth in real incomes, although he does not attempt to quantify these effects.(2) He recounts rather startling statistics relating savings rates in the U.S.
to those in other developed countries.