FROM ISSUE NUMBER 114 - WINTER 1994 GO TO TABLE OF CONTENTS
A better way to tax
IN THE SUMMER OF 1992, Senators Pete Domenici (R-NM) and Sam Nunn (D-CA) decided to move beyond the short-term tinkering that usually dominates congressional debate over taxation. The senators reached onto the academic shelf and pulled down an idea that many economic thinkers have advocated: replacement of the personal income tax with a consumed income tax (CIT).
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