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| Author: | Auerbach, A. J. Bradford, D. F. |
| Title: | Generalized cash-flow taxation |
| Journal: | Journal of Public Economics
2004 : APR, VOL. 88:5, p. 957-980 |
| Index terms: | Cash flow Taxation |
| Language: | eng |
| Abstract: | The authors show the unique form that must be taken by a tax system based entirely on realization accounting to implement a uniform capital income tax, or, equivalently, a uniform wealth tax. This system combines elements of an accrual based capital income tax and a traditional cash-flow tax, having many of the attributes of the latter while still imposing a tax burden on marginal capital income. Like the traditional cash-flow tax, this system may be integrated with a tax on labour income. |
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