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Are Income Taxes Destined to Rise? Fiscal Imbalance and Future Tax Policy in the United States

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  • Jason L. Saving
  • Alan D. Viard

Abstract

We present a model of optimizing government behavior in which a need for increased revenue does not lead to increased income taxes, but instead leads to the introduction of a new revenue source, such as a VAT, accompanied by a reduction in income taxes. We argue that this is a plausible outcome for the United States in view of international experience and recent fiscal reform proposals, and that the prospect of such a tax reform may have important implications for individual investment decisions.

Suggested Citation

  • Jason L. Saving & Alan D. Viard, 2015. "Are Income Taxes Destined to Rise? Fiscal Imbalance and Future Tax Policy in the United States," National Tax Journal, National Tax Association;National Tax Journal, vol. 68(2), pages 235-250, June.
    • Handle: RePEc:ntj:journl:v:68:y:2015:i:2:p:235-250
    DOI: 10.17310/ntj.2015.2.01
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