A convincing presentation of a fundamental solution, not intended as an emergency stopgap. The basic idea is to put taxation...
CONSTRUCTIVE INCOME TAXATION: A Proposal for Reform
by ‧RELEASE DATE: Sept. 16, 1942
A convincing presentation of a fundamental solution, not intended as an emergency stopgap. The basic idea is to put taxation on income not savings -- to make taxable income ""real income"", and encourage savings by making the tax base income spent. They feel that this would relieve the ball and chain on business, encourage expansion through reinvestment, and thereby increase potential national income and potential income for ultimate taxation. They illustrate the method of application, step by step, and show how gradual adoption might be possible. The arguments pro and con are marshalled and met; the various particular consequences, practical and theoretical, social and legal, are discussed in detail. And the financial return estimated to prove that the theory is realistic. The authors claim that their plan would limit big inheritances, soak big spendings, encourage savings, increase equality of opportunity and retard inflation. I'm no expert --but it reads convincingly for the layman.