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Informationen zum Autor Alan D. Viard is a resident scholar at the American Enterprise Institute. Robert Carroll is vice president for economic policy at the Tax Foundation and co-director of the Center for Public Finance and Research at American University. Klappentext 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. Inhaltsverzeichnis LIST OF ILLUSTRATIONS ACKNOWLEDGMENTS INTRODUCTION1. WHY TAX CONSUMPTION?Removing the Income Tax Penalty on SavingGains from Reform Consumption-Tax Features in the Current Income Tax System Conclusion Box: The Trade-off Fallacy 2. THE CASE FOR THE X TAX The Retail Sales Tax and the Value-Added Tax The Two-Part VAT The X Tax: A Progressive Two-Part VAT Comparing the X Tax to the Personal Expenditures Tax Conclusion Box: Optics of the X Tax and the PET 3. MAINTAINING PROGRESSIVITY Tax Rate Schedule Assessing the Distributional Effects of the X Tax Conclusion Box: Zero Revenue from Taxation of Risky Returns 4. FRINGE BENEFITS AND TRANSFER PAYMENTS Fringe Benefits Financing Social Security and Medicare Public and Private Transfer Payments Conclusion Box: Taxation of Gambling 5. BUSINESS FIRMS General Issues Distinguishing Wages from Business Cash Flow Firms with Negative Business Cash Flows Conclusion 6. FINANCIAL SERVICES Neutral Tax Treatment The Problem of Mislabeled Transactions The Search for a Solution The R+F Cash-Flow Method Accounting Methods Special CasesConclusion7. INTERNATIONAL TRANSACTIONSThe Border Adjustment QuestionThe "Competitiveness" IllusionGiving Wealth Away without Really TryingAbove-Normal Returns and Transfer PricingOther Cross-Border IssuesConclusionBox: Border Adjustment with Fixed Exchange Rates8. THE TRANSITIONTransition Burden on Existing CapitalNormative IssuesOutline of a Transition PolicyMacroeconomic Policy during the TransitionConclusion9. THE NONBUSINESS SECTOROwner-Occupied Housing and Consumer DurablesProduction by Governments, Nonprofits, and HouseholdsPatrolling the Boundaries of the Business Cash-Flow TaxFiscal Federalism under the X TaxConclusionBox: Taxation of Home Resales10. THE VAT ALTERNATIVE Subtraction and Credit-Invoice VATs The Superiority of the VAT to the Retail Sales Tax Recent Discussion of VAT Using the VAT to Replace Other Taxes The "Easy" Stuff Monetary Policy and Other Transition Issues Governments and Nonprofits Implications for Social Security Combating the "Money Machine" Conclusion CONCLUSION NOTES REFERENCES INDEX ABOUT THE AUTHORS...
