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- Title
TAX LEGISLATION IN THE REAGAN ERA--MOVEMENT TO OR FROM A CONSUMPTION BASE?
- Authors
GALVIN, CHARLES O.
- Abstract
The article discusses the features of a consumption system in contrast to an accretion system in the determination of taxable income and their policy implications. It offers a theoretical framework of the accretion system, its advantages and the tax accounting rules to determine the A Component along with the analysis of income tax returns, reconciliation of gross national product (GNP) and taxable income as it effects the individuals, corporations and exempt organizations. It describes the consumption system, how it operates compared to the present system, the value-added tax and tax expenditure budget. It also notes the Economic Recovery Tax Act of 1981 (ERTA), Tax Equity and Fiscal Responsibility Act of 1983 (TEFRA) and the Treasury Proposal of 1984.
- Subjects
UNITED States; ACCRETION (Law); INCOME tax laws; UNITED States tax laws; TAX returns; GROSS national product; ECONOMIC recovery; UNITED States economy; ECONOMICS
- Publication
Law & Contemporary Problems, 1985, Vol 48, Issue 4, p31
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1191484