List of illustrations -- Acknowledgments -- Introduction -- Why tax consumption? -- The case for the X tax -- Maintaining progressivity -- Fringe benefits and transfer payments -- Business firms -- Financial services -- International transactions -- The transition -- The nonbusiness sector --...

The authors observe that consumption taxation is superior to income taxation because it does not penalize saving and investment and propose that the U.S. income tax system be completely replaced by a progressive consumption tax. They argue that the X tax, developed by the late David Bradford,...

Recognizing the unsustainable fiscal outlook facing the United States, the authors present a plan to constrain the growth of federal spending and reform the tax system to promote economic growth. The plan replaces the income tax system with a progressive consumption tax, eliminating the bias...