Thursday, February 01, 2018

New article (on the DBCFT) posted on SSRN

I have just posted on SSRN a recently completed article of mine, entitled "Goodbye to All That?: A Requiem for the Destination-Based Cash Flow Tax." It's available here.

It's based on an ever-evolving talk that I gave multiple times in 2017, most recently at the interdisciplinary conference, "International Tax Policy in a Disruptive Environment," that the Max Planck Institute for Tax Law and Public Finance held in Munich on December 14-15, 2017. A final version of the paper will be appearing in a forthcoming conference volume of the Bulletin for International Taxation, to be published by IBFD.

Its abstract goes something like this:

In the aftermath of the short but spectacular career of the destination-based cash flow tax (DBCFT) as a widely-discussed tax reform option in U.S. tax policy debate, this paper argues that we should generally move on from focusing on the DBCFT as a discrete package.  While its political future (if any) is hard to predict, discussing it as a package tends to impede, rather than advance, clear thinking about the underlying issues.


The DBCFT has three main elements: (1) adopting a broad-based VAT (or increasing the VAT rate, in countries that already have one), (2) reducing the origin-based corporate (or business) income tax rate to zero, and (3) adopting a wage subsidy.  Intellectual clarity would be greatly advanced by evaluating each of these elements separately, rather than the DBCFT as a package.  It also would be advanced by more consistent recognition of the points that (1) countries can (and frequently do) have both VATs and origin-based corporate income taxes – it is not an either/or proposition – and (2) even if a destination-based VAT is more efficient than an origin-based tax, that does not make the case for having only the former, especially in a system that otherwise retains income taxation of individuals, and that serves distributional goals as well as that of efficiency (which would be advanced even more by having a lump-sum tax).

In addition, the DBCFT, unlike its forebears the flat tax and X-tax, does not involve specifying how individuals are taxed on wage and investment income.  This impedes analyzing how it, as compared to those more comprehensive instruments, would affect the fiscal system as a whole, in any given instance where it was adopted.

4 comments:

Michelle Huxford said...


ALL THANKS TO UPSTART LOAN AM NOW FINANCIALLY STABLE . upstartloan@yahoo.com
I am Michelle Huxford from Casper, Wyoming. I was in a very chronic financial issue and terminal health situation some few weeks back. After all my search for assistance from friends and neighbors proved abortive, I feel there was no one who truly cares. I became so emaciated due to lack of good food and my 2 kids age 5 and 8 were not also good looking due to lack of proper care as a result of finance. One faithful morning I saw an old time friend of my late husband and I told him all I have been going through and he said the only way he could help was to direct me to a good loan agency that also helped him, He explained to me on how he was financially down and how he got boosted by this loan agency UPSTART LOAN INC ( upstartloan@yahoo.com ) who grant him 245,000 USD loan at an affordable rate. He further assured me that they were the only legit loan firm he found in the quest of seeking for loan after been scammed by various fake loan lenders online. He gave me their email: upstartloan@yahoo.com or text/call (574) 301-1639, That was how i applied and was also granted a loan and my life changed for the good. CONTACT THE ONLY GENUINE LENDERS( UPSTART LOAN INC) VIA email: upstartloan@yahoo.com or call +1 (574) 301-1639 to resolve your financial mess. ............

printing designs company in Frisco said...

Hello
Nice Article Thanks for sharing
tax services mckinney tx

Victoria Financier Loan Firm said...

TAKE A LOAN @ 2% INTEREST RATE with victoriafinancier@outlook.com

Do you need a loan?
Do you need a loan to pay off your debt?
Do you have bad credit?
Do you need a loan construction or to invest?
Do u you need loan to start doing business?
if yes,
VICTORIA FINANCIER LOAN FIRM
are Granting you personal loan, Business loan, mortgage loan,
Construction loan, Debt loan, Student loan, Auto loan, e.t.c.
Loan at any currency are range from $5,000 ''min'' to $100,000.000 ''max'' @ 2% interest rate
If you are interested kindly send
response to: { victoriafinancier@outlook.com }

*Full Name/Company Name:_________

*Address:_________

*Tell:_________

*loan amount:_________

*Loan duration:_________

*Country:_________

*Purpose of loan:_________

*Monthly Income:__________

*Occupation__________

*Next of kin :_________

*Email :_________

VICTORIA FINANCIER EMAIL: victoriafinancier@outlook.com
Best Regard
VICTORIA FINANCIER

BETTERMENT FUNDINGS INC said...

Attention! Attention!! Attention!!!,

What is your situation?
DO YOU NEED A URGENT LOAN BUSINESS LOAN TO SOLVE YOUR PROBLEM EMAIL US NOW

Are you in need of Urgent Loan.. All problem regarding Loans are solved between a short period of time with a low interest rate of 2% and duration more than 20 years what are you waiting for apply now and solve your problem or start a business with Loan, paying of various bills.

We offer a wide range of financial services which includes: Personal Loans, Debt consolidation loans, Business Loans, Education Loans, Mortgage Secured Loan, Unsecured loan, Mortgage Loans, Payday off Loans, Student Loans, Commercial Loans, Car Loans,Investments Loans,DevelopmentLoans, Acquisition Loans, Construction Loans, with low interest rate at 2% per annul for individuals, companies and corporate bodies. Get the best for your family and own your dream home as well with our General Loan scheme.For more details email us today via email.

bettermentfunding@gmail.com
call/Text us now (803) 373-2162
Chester Brian