October 29, 2015

WE ARE ALL NEOCONOMISTS NOW:

Another proposal for a hidden VAT (Alan D. Viard, October 29, 2015, AEIdeas)

Following Senator Rand Paul's lead, Senator Ted Cruz has released a tax reform plan that includes a substantial value added tax (VAT).

Cruz's plan would abolish the payroll and self-employment tax, the corporate income tax, and the estate and gift tax, and would also slash  individual income tax rates to a flat 10%. The plan would recoup part of the revenue loss by adopting a 16% VAT, slightly larger than Paul's proposed 14.5% VAT.

The difficulty once you've opened this line of argumentlies in explaining why you want to tax income.

Posted by at October 29, 2015 6:18 PM
  

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