Brief Principles of Macroeconomics...
Brief Principles of Macroeconomics...
Advocates of taxing consumption rather than income argue that
a. a consumption tax is a better automatic stabilizer.
b. taxing consumption does not cause any dead-weight losses.
c. the rich consume a higher fraction of income than the poor.
d. the current tax code discourages people from saving.
The argument in agreement to taxing consumption.
Option (d):
Tax code discourages saving by taxing the return to saving , by double taxation of capital income, taxing bequests, having means tests for welfare and Medicaid and by granting financial aid as a function of wealth. Thus, option‘d’ is correct.
Option (a):
Automatic stabilizers offset fluctuations in economic activity without direct intervention by policymakers and the consumption tax does not fall in this category. Thus, option ‘a’ is incorrect...
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