|
| |
| | Consumption Tax, by Al Ehrbar: The Concise Encyclopedia of Economics: Library of Economics and Liberty |
 | | The one objection to a consumption tax that is based on pure economics is that it would require a higher tax rate in order to raise the same revenue as the income tax. | | | The theoretical case for a consumption tax actually is a case against the income tax. | | | A consumption tax—also known as an expenditures tax, consumed-income tax, or cash-flow tax—is a tax on what people spend instead of what they earn. |
|
http://www.econlib.org/library/Enc/ConsumptionTax.html
|
|
| |
| | TCS: Tech Central Station - The Fairer Tax |
| | The transaction costs of processing income tax returns, with the commensurate complications of audits, tax liens, and advising citizens of their tax responsibilities under a very difficult system, only serve to increase the cost of maintaining the current tax structure. | | | Shaviro demonstrates a consumption tax has an effect on unspent wealth, which means that any burden imposed by such a tax is not escaped by the deferment of consumption. | | | To figure out their tax obligations, they are often forced to pay hundreds of dollars to tax consultants and accountants. |
|
http://www.techcentralstation.com/103103D.html
|
|
| |
| | Tax Policy Center Publications |
| | First, the current U.S. tax system is not a pure income tax; it is a hybrid between a consumption tax and an income tax. | | | A proposal for fundamental tax reform that would replace the income tax system with a consumption tax, to be collected by levying a flat-rate tax on businesses and individuals. | | | Consumption taxes are generally less regressive when viewed over longer periods of time because income changes from year to year, but they would raise tax burdens on lower- and middle-income households over any time frame. |
|
http://www.taxpolicycenter.org/publications/template.cfm?PubID=1000530
|
|
| |
| | SignOnSanDiego.com > News > Business -- Greenspan touts consumption tax, simplification to spur savings, ... |
| | Consumption taxes are one of many options under consideration by the president's tax panel, charged with studying tax laws and offering several blueprints this summer to make taxes fairer, simpler and less burdensome on the economy. | | | Value-added taxes are imposed on the increased value of a good or service at each stage of manufacture and distribution and ultimately passed on to the consumer. | | | Simplification is needed, perhaps a hybrid between consumption taxes and income taxes, he told the President's Advisory Panel on Federal Tax Reform. |
|
http://www.signonsandiego.com/news/business/20050303-1314-taxoverhaul.html
|
|
| |
| | CONSUMPTION TAX PATHFINDER |
| | Progressivity of a consumption tax could be accomplished by increasing the tax rate according to income, which would require an income statement. | | | A consumption tax can be either a sales tax or a periodic tax, like an annual tax. | | | Consumption taxes tax people on what they take from society, while income taxes tax people on what they contribute to society. |
|
http://www.law.arizona.edu/library/Pathfinders/stunney/PATHF-2.html
|
|
| |
| | USATODAY.com - Greenspan against tax reform proposal |
| | Some economists and lawmakers have promoted replacing income taxes with a consumption tax, such as a national retail sales tax or a value-added tax on goods, as a way to simplify the tax code and to promote consumer saving. | | | Consumption taxes have some support in Congress, which is ultimately charged with setting U.S. tax policy. | | | Consumption taxes can be made more progressive by exempting such necessities as food and clothing. |
|
http://www.usatoday.com/money/economy/fed/2005-03-03-greenspan-tax_x.htm
|
|
| |
| | Tax Policy in Anguilla |
| | The ABCs of the Capital Gains Tax "The capital gains tax is so economically inefficient--because of its punitive effect on entrepreneurship, thrift, and investment--that the optimal economic policy for the United States would be to abolish the tax entirely. | | | Tax Rates, Tax Revenues and Economic Growth: "In the presence of high tax rates, people increasingly conduct their economic activities in the 'underground,' 'black market' or 'informal' sector of the economy - where they escape official scrutiny and costly government regulations as well as high taxes.... | | | Anguilla has a government, so it has taxes, but it doesn't have a sales tax, VAT, GST, income tax, profits tax, capital gains tax, or inheritance tax. |
|
http://siliconisle.com/taxes.html
|
|
| |
| | NCPA - Commentary - Bush Moves Toward Consumption Taxation |
| | Consumption taxes are less burdensome than income taxes because of the way they treat saving. | | | Thus, a tax on consumption will also be roughly proportional—taking the same percentage from all taxpayers. | | | If there were no taxes at all on saving, we would have a consumption tax system, even if there were no direct taxes on sales. |
|
http://www.ncpa.org/edo/bb/2003/bb021703.html
|
|
| |
| | LAW ON SPECIAL CONSUMPTION TAX |
| | The time for issuing the tax notice and paying the special consumption tax for imported commodities shall be carried out according to the timelimit for issuing the import tax notice and submission of the import tax. | | | The entities producing commodities subject to the special consumption tax with materials which have been charged with the special consumption tax, when declaring the special consumption tax in the production stage, are allowed to deduct the amount of special consumption tax that has been paid for the materials with legal dossiers required. | | | The base for calculating the special consumption tax is the taxable prices of commodities, services subject to the tax and tax rates. |
|
http://www.vnstyle.vdc.com.vn/usefulreading/Spe_consum_tax
|
|
| |
| | Online NewsHour: Federal Reserve Chairman Alan Greenspan Meets with President Bush's Tax Reform Panel, Seeks Tax System ... |
| | So if you move the tax from income to consumption, you're raising the relative burden on low savers, which are low and moderate income households, so almost any revenue neutral shift from the income tax to a consumption tax will be regressive in that manner. | | | Most of these consumption taxes, like a retail sales tax or value added tax or the flat tax, or whatever, talk about cleaning out the tax system, all the special exemptions and deductions and credits and stuff like that. | | | And a consumption tax that wouldn't happen, you would be taxed essentially when you actually spent the money at the store. |
|
http://www.pbs.org/newshour/bb/economy/jan-june05/consumption_3-3.html
|
|
| |
| | The Consumption Tax: A Critique - Mises Institute |
| | Suppose, for example, that all present taxes are abolished and that the same total is to be raised from a new capitation, or head, tax, which requires that every inhabitant of the United States pay an equal amount to the support of federal, state, and local government. | | | Before turning to a critique of the consumption tax as a substitute for the income tax, it should be noted that current proposals for a consumption tax would deprive taxpayers of the psychic joy of eradicating the IRS. | | | Of the various forms of consumption tax, the sales tax surely has the great advantage, for most of us, of eliminating the despotic power of the government over the life of every individual, as in the income tax, or over each business firm, as in the VAT. |
|
http://www.mises.org/story/1768
|
|
| |
| | income -> consumption tax |
| | In its simplest form "consumption tax" can be simply implemented as national "sales tax" where every transaction is taxed by the same percentage. | | | Better (than a lanfill/disposal tax, that would lead to dumping to the charites, who cannot afford dumping fees, or illegal disposal) would be an at purchase disposal tax, orto put the cost of disposal upon the manufacturers. | | | Consumption taxes are actually taxes designed to make people STOP consuming. |
|
http://www.whynot.net/view_idea?id=207
|
|
| |
| | Americans for Fair Tax |
| | Everyone pays their fair share of taxes, and with the FairTax rebate, spending up to the poverty level is tax free. | | | The FairTax is a voluntary “consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes. | | | The current Federal income tax system is broken. |
|
http://www.fairtax.org
|
|
| |
| | consumption tax -- Encyclopædia Britannica |
| | Because the rates of consumption taxes are generally proportional to the level of consumption expenditure, and upper-income groups consume a smaller percentage of their incomes than do lower-income groups, they are usually both more deflationary and more… | | | Because the rates of consumption taxes are generally proportional to the level of... | | | Regressivity is considered undesirable in taxation because it forces poorer persons to pay a greater percentage of their income in tax than... |
|
http://www.britannica.com/eb/article?tocId=9026031
|
|
| |
| | Pejmanesque: REFUTING REFUTATIONS OF THE CONSUMPTION TAX |
| | For my part, I'd be happy to see the payroll tax eliminated and replaced with a VAT, and with a dual VAT/income tax system in place we might be in a position to evaluate the idea of shifting the balance further away from income taxation and towards consumption taxation down the road. | | | An income-based tax that addresses your concerns about evasion happens to be the one I favor -- a flat tax on income, less the amount that is documented savings, i.e. | | | And it's not just a tax on what we normally consider retail sales -- it's also a tax on, say, rent which would be almost universally evaded. |
|
http://www.pejmanesque.com/archives/009491.html
|
|
| |
| | Consumption Tax:Topic |
| | For the OECD area the long-term trend is increasing revenue yield from consumption taxes. | | | The CFA has released a report on the collection of consumption taxes on cross-border business-to-consumer e-commerce transactions. | | | Consumption taxes maintain a high profile as revenue collecting instruments throughout the world. |
|
http://www.oecd.org/topic/0,2686,en_2649_33739_1_1_1_1_37427,00.html
|
|
| |
| | Visitor Information - Money Matters - Taxes |
| | A 5% consumption tax is levied on all goods and services in Japan, except for items that are purchased ‘duty-free'. | | | Departing foreign visitors cannot be reimbursed for consumption tax paid on other items purchased during their stay in Japan. | | | When the total charge exceeds ¥15,000, an 8% tax is levied. |
|
http://www.seejapan.co.uk/visitor/money/taxes.html
|
|
| |
| | SSRN-Replacing the Income Tax With a Progressive Consumption Tax by Daniel Shaviro |
| | A consumption tax affects the purchasing power even of unspent wealth, and the burden it imposes generally is not reduced by deferring one's consumption. | | | A consumption tax can use either method, but an income tax is practically compelled to use the origin basis. | | | However, the capacity of a consumption tax to achieve progressivity comparable to that of an income tax is widely misunderstood, for two main reasons. |
|
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=444221
|
|
| |
| | SSRN-The Progressive Consumption Tax Revisited by Steven Bank |
| | Consumption tax supporters were offended by the progressive rate structure while income tax supporters did not want to adopt what they perceived to be a move from an ability to pay base to a necessity to consume base. | | | By exempting savings and investment from the income tax base, while subjecting spending to a progressive rate tax, McCaffery's proposal appears to be the perfect compromise. | | | This Review examines three previous attempts to introduce a progressive consumption tax - in 1921, 1942, and 1995 - and discusses why they failed to satisfy both sales tax and progressive income tax proponents. |
|
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=515502
|
|
| |
| | Meme Watch: Consumption Tax Gambit - Taxing the poor by stealth? By Timothy Noah |
| | A consumption tax is generally viewed as being highly regressive, because poor people spend a larger proportion of their income on consumptionâ”that is, buying stuff, as opposed to making investmentsâ”than rich people do. | | | Lester Thurow, a liberal economist, made the case two decades ago for a consumption tax that would include a generous income-based refundable credit to help people at the lower end of the income scale. | | | The Economic Report further argues that the consumption tax is less regressive when one takes into account that some forms of capital income would be counted as consumption rather than as investment. |
|
http://slate.msn.com/id/2078671
|
|
| |
| | The Decembrist: Learning to love consumption taxes |
| | I've always been interested in large-scale tax reform, but with an old-fashioned moderate purism: my ideal would be a reasonably progressive tax on all income -- because income is the best measure of ability to pay -- on the broadest base (that is, all income included), with relatively low marginal and average rates. | | | When a consumption tax is instituted, retirees are hit hard- they paid tax on returns to saving all along, and then they have to pay again when they consume in retirement. | | | The payroll tax is regressive not just because it is flat and then drops off at higher incomes, but because it applies only to income from labor. |
|
http://markschmitt.typepad.com/decembrist/2004/06/learning_to_lov.html
|
|
| |
| | Cornell News |
| | Frank's consumption tax would have a large standard deduction: the first $20,000 of annual consumption expenditures. | | | Flat tax proponents say this windfall for the wealthy is healthy and would ignite economic growth. | | | Just as current tax rates rise with income levels, consumption tax rates would rise with consumption levels. |
|
http://www.news.cornell.edu/releases/Feb96/aaas.frank.dg.html
|
|
| |
| | TownHall.com: Conservative Columnists: Bruce Bartlett |
| | The case for taxing consumption had a revival in 1977, when the Treasury Department issued a study titled, "Blueprints for Basic Tax Reform." However, since it was a Ford administration initiative that came out just three days before Jimmy Carter took office, it went nowhere legislatively. | | | Keynes saw saving as bad for growth, and income taxation discourages saving by including it in the tax base, which would not be the case under a consumption tax. | | | At almost the same time, Sir William Petty also made a strong case for taxing consumption on the grounds that the goods and services that people consume are a truer measure of their well being than what they earn. |
|
http://www.townhall.com/columnists/brucebartlett/bb20030211.shtml
|
|
| |
| | FairTax Volunteer - FAQ's |
| | Are seniors taxed twice on savings, once when they saved it, and now again when the spend it? | | | I know the FairTax rate is 23 percent when compared to current income taxes. | | | How are state tax systems affected, and can states adequately collect a federal sales tax? |
|
http://www.fairtaxvolunteer.org/smart/faq.html
|
|
| |
| | Greenspan likes idea of consumption tax - Stocks & Economy - MSNBC.com |
| | Switching from an income tax to a consumption tax would generate huge opposition from Democrats, who argue that a greater burden would fall on the poor because they spend a far higher proportion of what they earn. | | | In his prepared remarks to the panel, the Fed chief said that âa consumption tax would be best from the perspective of promoting economic growthâ because it would encourage saving and the capital formation that the economy needs to expand and modernize. | | | WASHINGTON - Federal Reserve Chairman Alan Greenspan Thursday said some form of a consumption tax â” such as a national sales tax â” could spur greater economic growth, but he acknowledged that a hybrid approach might be more politically realistic. |
|
http://www.msnbc.msn.com/id/7077499
|
|
| |
| | OffshoreNet: Bush Eyes a Consumption Tax |
| | For years, GOP tax mavens, ranging from New Mexico Senator Pete Domenici to former House Ways & Means Chairman Bill Archer of Texas, have urged adoption of a national tax on consumption. | | | Conservatives are worried that rather than pushing forward on the tax front, Bush might be content to play defense in a second term, fighting to keep his already enacted reductions from expiring or being rolled back. | | | Yet it's worth exploring whether Bush might really be putting the sales tax on the table. |
|
http://www.offshorenet.com/blog/archives/000076.php
|
|
| |
| | Government of Tonga :: CONSUMPTION TAX REGISTRATION |
| | The Minister also said that âsupport for the new tax regime has been extremely positive and the government will continue to work in partnership with businesses to ensure that the next phase of the revenue reform will be implemented successfully.â | | | Siosiua T T âUtoikamanu, today released information on business registrations for Consumption Tax. |
|
http://pmo.gov.to/index.php/news/153
|
|
| |
| | FT.com / World / US - Greenspan calls for consumption tax |
| | But he supported the introduction of a consumption tax such as a value-added tax alongside a simplified income tax. | | | Alan Greenspan on Thursday voiced support for the introduction of a consumption tax, arguing for reforms that will broaden the US tax base. | | | Appearing before President George W. Bush's advisory panel on tax reform, the Federal Reserve chairman avoided direct policy prescriptions. |
|
http://news.ft.com/cms/s/7f89913a-8c05-11d9-a895-00000e2511c8.html
|
|
|
