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Taxation and Expenditure

In: James Edward Meade

Author

Listed:
  • David Reisman

    (Nanyang Technological University
    University of Surrey)

Abstract

Having decided on market allocation combined with statist social engineering, Meade relied on politicians and civil servants to devise and implement the taxes, transfers and investments. Income taxes should be broadly proportional but with a surtax on higher incomes. More important, there should be an expenditure tax, in line with the proposals of Nicholas Kaldor, that would cap divisive ostentation and encourage productive saving. Taxes on capital transfers such as estate duties would limit the intergenerational transmission of wealth but an annual levy would be excessively disruptive, both economically and socially. The national debt should be eliminated save as a short-term macroeconomic tool.

Suggested Citation

  • David Reisman, 2018. "Taxation and Expenditure," Great Thinkers in Economics, in: James Edward Meade, chapter 3, pages 47-67, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-3-319-69281-4_3
    DOI: 10.1007/978-3-319-69281-4_3
    as

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