Tag: tax reform

Value Added Tax (VAT), National Sales Tax (NST), Flat Tax, Transaction Tax

Value Added Tax (VAT), National Sales Tax (NST), Flat Tax, Transaction Tax

Dissatisfaction with the federal tax system has led to a debate about U.S. tax reform, including proposals for a national consumption tax. One type of proposed consumption tax is a value-added tax (VAT), widely used around the world. A VAT is levied on the difference between a business’s sales and its purchases of goods and […]

The Constitution of the United States: Amendment 16 (Sixteenth Amendment – Income Tax)

The Constitution of the United States: Amendment 16 (Sixteenth Amendment – Income Tax)

The Constitution of the United States: Amendment 16 (16th Amendment) Amendment XVI. (Income Tax) Passed by Congress July 2, 1909. Ratified February 3, 1913. Note: Article I, section 9, of the Constitution was modified by amendment 16. The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment […]