As of 3/8/2014 5:37:40 AM
This course will focus on two current types of consumption taxes: The retail
sales 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 by
Michigan. We will analyze both taxes in some detail to show their advantages
and disadvantages in comparison with the income tax. In addition, we will
analyze some of the current proposals to replace the US income tax with a
VAT-type consumption tax.