Substituting Consumption-Based Direct Taxation for Income Taxes as the International Norm

Charles E. McLure

National Tax Journal, 1992, vol. 45, issue 2, 145-54

Abstract: Considers two direct consumption-based taxes. Both allow the immediate expensing of all business expenditures. One exempts interest and dividends and allows no deductions for them while the other includes the proceeds of borrowing in the tax base and allows a deduction for repayment of debt; interest is treated as under the income tax.

Date: 1992
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:45:y:1992:i:2:p:145-54

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