财政第十版课后答案.pdfVIP

财政第十版课后答案--第1页 Chapter 21 – Fundamental Tax Reform: Taxes on Consumption and Wealth Brief Outline 1. Efficiency and Equity of Personal Consumption Taxes a. Efficiency Issues b. Equity Issues 2. Retail Sales Tax a. Rationalizations b. Efficiency and Distributional Implications of State Sales Taxes c. A National Retail Sales Tax 3. Value-Added Tax a. Implementation Issues b. A VAT for the United States? 4. Hall-Rabushka Flat Tax 5. Cash-Flow Tax 6. Income versus Consumption Taxation a. Advantages of a Consumption Tax b. Disadvantages of a Consumption Tax c. Problems with Both Systems 7. Wealth Taxes 8. Estate and Gift Taxes a. Rationales b. Provisions c. Reforming Estate and Gift Taxes 9. Prospects for Fundamental Tax Reform Suggested Answers to the End of Chapter Questions 1. a. The income tax is 50 percent, so Zach pays 50%*$10000 = $5000 in income taxes in the first period. He saves half of what is left after taxes and earns 10%, therefore he saves $2,500 and earns $250 in interest, but pays half of that interest, $125, in taxes. The present value of his lifetime tax payments is $5000 + $125/ = $ b. In the second period, Zach has savings and interest equal to $2750. He will use all this savings on consuming and paying consumption taxes. He will pay $1375 in consumption taxes, so the present value of his tax payments is now $5000 + 1375/ = $ 财政第十版课后答案--第1页 财政第十版课后答案--第2页 These calculations demonstrate the transitional problem in moving to a consumption