William G. Gale, a Senior Fellow in the Economic Studies Program at the Brookings Institution, published a paper suggesting that the United States government can increase its revenue by imposing a “progressive value-added tax.” In the plan proposed in the Hamilton Project study , this VAT could reach the revenue which is expected to be earned through the wealth tax and could cover the universal basic income (UBI) initiative.
In the proposal, Gale explained that his plan is similar to the VAT suggested by presidential candidate Andrew Yang. It would be a national consumption tax similar to retail sales tax. […]
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