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The Oxford Introductions to U.S. LawIncome Tax Law$
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Edward McCaffery

Print publication date: 2012

Print ISBN-13: 9780195376715

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780195376715.001.0001

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The Once and Future Tax System

The Once and Future Tax System

Chapter:
(p.205) Eight The Once and Future Tax System
Source:
The Oxford Introductions to U.S. Law
Author(s):

Edward J. McCaffery

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780195376715.003.0008

This chapter predicts what income tax might become in the future. It also contemplates on the idea of enacting a national tax policy. It considers four possible options for the U.S. tax system: incremental reform within the individual tax, increasing other existing taxes, adding new taxes, and fundamental reform of the income tax, by moving systematically toward a consumption tax. Also, it recommends the implementation of a progressive spending tax that allows savings for ordinary uses to lower taxes. Furthermore, in order to lower the gap in the capital-labor divide, the chapter suggests taxing luxurious living at progressive rates.

Keywords:   income tax, national tax policy, national tax reform, US government, consumption tax, progressive spending tax, capital-labor divide

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