June 4, 2012
Book Forum: Progressive Consumption Taxation: The X-Tax Revisited
The American Enterprise Institute hosts a forum at 12:30 EST today on the forthcoming book Progressive Consumption Taxation: The X-Tax Revisited, by Robert Carroll & Alan D. Viard (webcast here):
The X tax, first proposed by Princeton University economist David Bradford, is a progressive consumption tax that offers a game-changing solution to the tax problems that have hampered the U.S. economy and poisoned its political system. Replacing America's current income tax system with the X tax would remove tax penalties on saving and investment while maintaining progressivity.
Progressive Consumption Taxation: The X-Tax Revisited ... is the most thorough analysis of the X tax available. It tackles the difficult issues of transition and implementation that are often glossed over in big-think conversations about tax reform. At this event, Alan Viard will present the X tax proposal while James Mackie of the U.S. Department of the Treasury and Chris Edwards of the Cato Institute will offer commentary.
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As argumentum, there is nothing wrong with the position that if a project is not financially feasible without government tax benefits to the developer is a project that shouldn't happen. However, the argument outlined herein is not an analysis of the financial feasibility of any project but a rant worthy (sic) of the Occupy Wall Street know nothings.
Posted by: David Schmidt | Jun 4, 2012 9:35:04 AM
I recall the most excellent Noël Cunningham praising a progressive, annual, self-reported consumption tax back in the mid 1990s. I've been a believer since then. Why not let people keep their returns on savings and investment and tax their consumption?
Posted by: Yo Gabba Gabba | Jun 7, 2012 8:59:07 PM