This course will focus on two current types of consumption taxes: The retailsales tax, which is used by most US states, and the value added tax (VAT),which is the most important tax globally outside the US and is also used byMichigan. We will analyze both taxes in some detail to show their advantagesand disadvantages in comparison with the income tax. In addition, we willanalyze some of the current proposals to replace the US income tax with aVAT-type consumption tax.
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