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Full-Text Articles in Law
Tax In The Cathedral: Property Rules, Liability Rules, And Tax, Andrew Blair-Stanek
Tax In The Cathedral: Property Rules, Liability Rules, And Tax, Andrew Blair-Stanek
Andrew Blair-Stanek
The distinction between property rules and liability rules has revolutionized our understanding of many areas of law. But scholars have long assumed that this distinction has no relevance to tax law. This assumption is flatly wrong. Tax law currently uses both property rules and liability rules, and the choice between them has real consequences. When a taxpayer violates a requirement for a favorable tax status, tax law either imposes additional tax proportionate to the harm (a liability rule) or imposes the draconian penalty of taking away the tax status entirely (a property rule). This recognition has three key implications. First, …
The Death Of The Income Tax: A Progressive Consumption Tax And The Path To Fiscal Reform, Daniel Goldberg
The Death Of The Income Tax: A Progressive Consumption Tax And The Path To Fiscal Reform, Daniel Goldberg
Daniel S. Goldberg
The Death of the Income Tax explains how the current income tax is needlessly complex, contains perverse incentives against saving and investment, fails to use modern technology to ease compliance and collection burdens, and is subject to micromanaging and mismanaging by Congress. Daniel Goldberg proposes that the solution to the problems of the current income tax is completely replacing it with a progressive consumption tax collected electronically at the point of sale.