Reconstructing the Agenda for U.S. Tax Reform

Dale Jorgenson

Eastern Economic Journal, 1993, vol. 19, issue 4, 409-417

Abstract: President William Clinton has signed into law an aggressive plan to cut the federal government budget deficit by nearly $500 billion over a period of five years. The purpose of deficit reduction is to revive U.S. economic growth by stimulating private investment, the most important source of growth. To stimulate investment further, the tax burden must be shifted from investment to consumption. Unfortunately, the tax increases imposed by the Clinton Budget Plan will increase the tax burden on investment, rather than consumption, thereby offsetting rather than reinforcing the impact of deficit reduction.

Keywords: Tax (search for similar items in EconPapers)
JEL-codes: H20 (search for similar items in EconPapers)
Date: 1993
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