Progressive Consumption Taxation as a Remedy for the U.S. Savings Shortfall

Robert Frank ()

The Economists' Voice, 2005, vol. 2, issue 3, 11

Abstract: The American savings rate, always low by international standards, has fallen sharply in recent decades. In this essay, I argue that a large part of the savings shortfall results from pressures to keep pace with community spending standards, pressures that have been exacerbated by rising income and wealth inequality. The progressive consumption tax is one possible remedy.

Keywords: Savings; consumption; taxes; externalities (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (2)

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DOI: 10.2202/1553-3832.1089

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