USA Tax
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The USA Tax Act (H.R. 269), short for "Unlimited Savings Allowance", was a bill in the United States Congress for changing tax laws to replace the federal income taxes with a progressive consumption tax on households and a value-added tax on businesses[1] . Lawrence Lokken credits Irving Fisher[2] with the insight that consumption can be taxed by taxing income minus savings.[3] See also a later version of Lokken's book.[4] The first bill (S. 722) was introduced in the United States Senate in April 1995 by senators Sam Nunn (D-Ga.)[5] and Pete Domenici (R-N.M.).
[edit] See also
[edit] References
- ^ Seidman, Lawrence S.. "The USA Tax - A progressive Consumption Tax". http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=6126.
- ^ Fisher, Irving; Herbert Wescott Fisher (1942). Constructive Income Taxation: A Proposal for Reform. University of Michigan: Harper & Brothers. pp. 277. http://books.google.com/books?id=l5HPAAAAMAAJ&q=%22Irving+Fisher%22+Tax+1942&dq=%22Irving+Fisher%22+Tax+1942&hl=en&ei=v6qPTuiAOoOesQK77ryDAQ&sa=X&oi=book_result&ct=result&resnum=1&ved=0CC0Q6AEwAA.
- ^ Lokken, Lawrence (October 1, 1998). Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). Chicago: Amazon.com. http://www.highbeam.com/doc/1G1-21276813.html.
- ^ Lokken, Lawrence (July 28, 2005). Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). Amazon.com. pp. 30. http://www.amazon.com/Taxing-tomorrow-Unlimited-Savings-Allowance/dp/B00098D3H0.
- ^ Nunn, Sam (June, 1995), The Unlimited Savings Allowance (USA) Tax Proposal, Georgia Public Policy Foundation, http://www.gppf.org/article.asp?RT=15&p=pub/Taxes/nunn.html, retrieved October 7, 2011
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