1995 proposed law for tax reform in the United States
TheUSA Tax Act (H.R. 269), short for "Unlimited Savings Allowance", was abill in theUnited States Congress for changing tax laws to replace thefederalincome taxes with aprogressiveconsumption tax on households and avalue-added tax on businesses[1]. Lawrence Lokken creditsIrving 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 theUnited States Senate in April 1995 by senatorsSam Nunn (D-Ga.)[5]andPete Domenici (R-N.M.).
- ^Seidman, Lawrence S."The USA Tax - A progressive Consumption Tax".
- ^Fisher, Irving; Herbert Wescott Fisher (1942).Constructive Income Taxation: A Proposal for Reform. University of Michigan: Harper & Brothers. p. 277.ISBN 9780598849410.
{{cite book}}:ISBN / Date incompatibility (help) - ^Lokken, Lawrence (October 1, 1998).Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). Chicago: Amazon.com. Archived fromthe original on May 17, 2013.
- ^Lokken, Lawrence (July 28, 2005).Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). p. 30.
- ^Nunn, Sam (June 1995),The Unlimited Savings Allowance (USA) Tax Proposal, Georgia Public Policy Foundation, retrievedOctober 7, 2011
