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http://ssrn.com/abstract=1012953
 
 

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Consumption Taxation is Still Superior to Income Taxation


David A. Weisbach


University of Chicago - Law School; Center for Robust Decisionmaking on Climate & Energy Policy (RDCEP)

Joseph Bankman


Stanford Law School

September 2007

U of Chicago Law & Economics, Olin Working Paper No. 358
Stanford Law and Economics Olin Working Paper No. 350

Abstract:     
This essay responds to an article by Daniel Shaviro which argues in part that the failure of empirical assumptions behind the permanent income hypothesis undermines the case for preferring consumption taxation over income taxation. We consider each of Shaviro's arguments and conclude that none change the basic considerations in favor of consumption taxation in any significant way. Shaviro concludes that administrability and implementation concerns should be central to the choice of the tax base and that these concerns are likely to point to taxing consumption. We agree with this conclusion.

Number of Pages in PDF File: 20

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Date posted: September 11, 2007 ; Last revised: September 29, 2009

Suggested Citation

Weisbach, David A. and Bankman, Joseph, Consumption Taxation is Still Superior to Income Taxation (September 2007). U of Chicago Law & Economics, Olin Working Paper No. 358; Stanford Law and Economics Olin Working Paper No. 350. Available at SSRN: http://ssrn.com/abstract=1012953 or http://dx.doi.org/10.2139/ssrn.1012953

Contact Information

David Weisbach (Contact Author)
University of Chicago - Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
773-702-3342 (Phone)
773-702-0730 (Fax)
Center for Robust Decisionmaking on Climate & Energy Policy (RDCEP) ( email )
5735 S. Ellis Street
Chicago, IL 60637
United States

Joseph Bankman
Stanford Law School ( email )
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
650-725-3825 (Phone)
650-725-7663 (Fax)
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