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United States

University of Michigan Law School

Taxation-Transnational

2006

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Full-Text Articles in Law

The Three Goals Of Taxation, Reuven S. Avi-Yonah Jan 2006

The Three Goals Of Taxation, Reuven S. Avi-Yonah

Articles

The current debate in the United States about whether the income tax should be replaced with a consumption tax has been waged on the traditional grounds for evaluating tax policy: efficiency, equity, and administrability. For example, Joseph Bankman and David Weisbach recently argued for the superiority of an ideal consumption tax over an ideal income tax on three grounds: First, that the consumption tax is more efficient because it does not discriminate between current and future consumption,' while both income and consumption taxes have identical effect on work effort. Second, that the consumption tax is at least as good at ...