THE UN-AMERICAN SPIRIT OF THE FEDERAL-INCOME-TAX

Authors
Citation
Pv. Domenici, THE UN-AMERICAN SPIRIT OF THE FEDERAL-INCOME-TAX, Harvard journal on legislation, 31(2), 1994, pp. 273-320
Citations number
50
Categorie Soggetti
Law
ISSN journal
0017808X
Volume
31
Issue
2
Year of publication
1994
Pages
273 - 320
Database
ISI
SICI code
0017-808X(1994)31:2<273:TUSOTF>2.0.ZU;2-Q
Abstract
In this Article, Senator Domenici makes a powerful case against the '' anti-saving, anti-growth'' aspects of the current federal income tax a nd proposes replacing it with a progressive consumption tax, or ''savi ngs-exempt'' income tax. Along with Senator Sam Nunn, Senator Domenici has developed a proposed consumption tax, which he discusses in detai l in this Article, explaining the policy reasons behind the proposal a nd candidly highlighting unresolved issues. Senator Nunn and Senator D omenici have not reached final agreement on all topics discussed in th is paper; this Article represents Senator Domenici's current thoughts on these unresolved issues. Senators Nunn and Domenici plan to hold a series of seminars and hearings about their proposal. In 1984, with th e publication of Treasury I, the movement for tax reform began in earn est. Today, Senator Domenici's Article illustrates continued Congressi onal pressure for tax reform and may provide a preview of the road ahe ad.