Tax Reform for Fairness, Simplicity, and Economic Growth : The Treasury Department Report to the President; Value Added Tax PDF
by U. S. Department of the Treasury
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Chapter 4 evaluates several alternatives to a value-added tax: a retail sales tax, manufacturers and wholesale sales taxes, and a per sonal exemption value - added tax.
Only a value-added tax or a retail sales tax would be basically neutral with respect to consumption and production decisions.
That is, a properly designed tax of either type would not seriously distort the consumption behavior of individuals nor the production techniques and methods of business firms.
In contrast, any pre - retail tax, such as a manufacturers or wholesale sales tax, would badly distort both consumption and production behavior.
The result would be reduced consumer satisfaction and less tax revenue at a given rate.
Pre - retail taxes also create substantial administrative problems that would not be present with either a retail sales or value - added tax.
Though a retail sales tax and a value - added tax are similar, there may be both administrative and economic reasons for favoring a value-added tax, if a national sales tax is desired.
Information
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Download - Immediately Available
- Format:PDF
- Publisher:Forgotten Books
- Publication Date:27/11/2019
- Category:
- ISBN:9780259724223
Information
-
Download - Immediately Available
- Format:PDF
- Publisher:Forgotten Books
- Publication Date:27/11/2019
- Category:
- ISBN:9780259724223
