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The Death of the Income TaxA Progressive Consumption Tax and the Path to Fiscal Reform$
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Daniel S. Goldberg

Print publication date: 2013

Print ISBN-13: 9780199948802

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199948802.001.0001

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Business-Level Consumption Taxes

Business-Level Consumption Taxes

Chapter:
(p.161) 11 Business-Level Consumption Taxes
Source:
The Death of the Income Tax
Author(s):

Daniel S. Goldberg

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199948802.003.0011

This chapter discusses the methods by which a consumption tax could be enacted at the business level. The two places for imposing a consumption tax at the business level are at the point of sale and on businesses annually. The retail sales tax and the credit method value added tax both impose the tax at the point of sale. In contrast, the subtraction method value added tax imposes the tax on the business annually. Importantly, all of these business level consumption taxes eliminate the need for an individual to file a Form 1040. Like chapter 10, this chapter uses a numerical example to demonstrate how each of the alternative methods operates, which allows for easy comparison among alternatives. The chapter compiles the results of the example into one table for easy reference.

Keywords:   business level, consumption, consumption tax, credit method (VAT), FairTax Book, retail sales tax, subtraction method (VAT), value added tax

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