Why economists are in favour of a consumption-based tax system
Reforming the tax system will address wealth inequality whilst raising revenue, but will it deter business?
1975, BA (Hons), Yale University; 1980, PhD in Economics, Massachusetts Institute of Technology. Former: Economist, Board of Governors, Federal Reserve System; Charles and Marie Robertson Professor of International Affairs, Princeton University; Counsellor and Director, Research Department, International Monetary Fund; Director, Center for International Development, Harvard University. Member: National Academy of Sciences, American Academy of Arts and Science; Council on Foreign Relations; Group of Thirty. Former Guggenheim Fellow. Author on policy issues in international finance, including exchange rates, international debt issues and international monetary policy. Co-Author, This Time is Different: Eight Centuries of Financial Folly (2009), Author, The Curse of Cash (2016). Monthly columnist on global economic issues for Project Syndicate.
Reforming the tax system will address wealth inequality whilst raising revenue, but will it deter business?
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