A User's Guide to Proposals to Replace the U.S. Tax System and Strangle Fiscal Policy

Journal of Economic Issues, Vol. 33, No. 3, pp. 505-23, September 1999

Levy Economics Institute Working Paper No. 173

19 Pages Posted: 3 Apr 2006 Last revised: 24 Oct 2017

See all articles by Neil H. Buchanan

Neil H. Buchanan

University of Florida Levin College of Law

Abstract

This article reviews several familiar plans to alter the structure of taxation, including the flat tax, a VAT, and the USA Tax. With the significant exception of a simplified income tax system, every plan to replace the current U.S. federal tax system would move us in precisely the wrong direction. These plans would abandon income taxation entirely in an attempt to solve problems that do not exist, and they are based on a flawed ideal of a neutral tax code. The companion to these plans is an even more misguided set of proposals (some in the form of constitutional amendments) that could severely limit future fiscal policy.

JEL Classification: H20, H21

Suggested Citation

Buchanan, Neil H., A User's Guide to Proposals to Replace the U.S. Tax System and Strangle Fiscal Policy. Journal of Economic Issues, Vol. 33, No. 3, pp. 505-23, September 1999, Levy Economics Institute Working Paper No. 173, Available at SSRN: https://ssrn.com/abstract=4820

Neil H. Buchanan (Contact Author)

University of Florida Levin College of Law ( email )

PO Box 357069
Gainesville, FL 32635
United States

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