Tax Policy for Economic Progress

C. Lowell Harriss

American Journal of Economics and Sociology, 1986, vol. 45, issue 3, 257-276

Abstract: Abstract. Developing countries, in constructing modern tax systems, would do well to adopt policies based on proven economic principles so that fiscal instruments do not perpetuate stagnant economies and underemployment of labor and resources. To achieve growth and jobs and ever higher levels of living, they should avoid the mistakes of the United States and many other industrially developed countries in burdening business—enterprises production—with heavy and obstrusive taxes. They, and developed countries as well which are committed to progressive change based on tax reform, like the United States, should use land values where possible to finance local governments so as to avoid taxing the other factors of production. And where necessary taxes should be levied on consumption, for taxes on business income misallocate resources and hamper market discipline in promoting output and efficiency.

Date: 1986
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