The current income tax system is criticized for costly complexity and damage to economic efficiency. Reform suggestions have proliferated, including a national retail sales tax, several versions of a value-added tax (VAT), the much-discussed “Flat Tax” on consumption (the “Hall-Rabushka” tax), the “USA” proposal for a direct consumption tax, and revisions of the income tax. The President has indicated that major tax reform will be a priority item in his second term.
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Description
The current income tax system is criticized for costly complexity and damage to economic efficiency. Reform suggestions have proliferated, including a national retail sales tax, several versions of a value-added tax (VAT), the much-discussed “Flat Tax” on consumption (the “Hall-Rabushka” tax), the “USA” proposal for a direct consumption tax, and revisions of the income tax. The President has indicated that major tax reform will be a priority item in his second term.
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Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.
Esenwein, Gregg A. & Gravelle, Jane G.The Flat Tax, Value-Added Tax, and National Retail Sales Tax: Overview of the Issues,
report,
December 14, 2004;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metacrs7390/:
accessed April 24, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.