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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

(p.205) Eight The Once and Future Tax System
The Oxford Introductions to U.S. Law

Edward J. McCaffery

Oxford University Press

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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