Are Income Taxes Destined to Rise? Fiscal Imbalance and Future Tax Policy in the United States

Jason Saving and Alan Viard ()

National Tax Journal, 2015, vol. 68, issue 2, 235-250

Abstract: We present a model of optimizing government behavior in which a need for increased revenue does not lead to increased income taxes, but instead leads to the introduction of a new revenue source, such as a VAT, accompanied by a reduction in income taxes. We argue that this is a plausible outcome for the United States in view of international experience and recent fiscal reform proposals, and that the prospect of such a tax reform may have important implications for individual investment decisions.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:68:y:2015:i:2:p:235-250

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