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- Cardin’s bill, S. 3005, the Progressive Consumption Tax Act (PCTA), changes the way the federal government raises revenue. Rather than taxing income, the Progressive Consumption Tax (PCT) generates reasonable revenue by taxing the purchase of goods and services.
Jul 8, 2015 · Senator Cardin would finance this with a value added tax, which he calls the Progressive Consumption Tax (PCT). Large rebates would make the overall package progressive. According to the Taxes and Growth Model, the Cardin plan would be pro-growth.
- 5.6%
- 5.3%
- 103
- 22.2%
Electing companies can zero rate (claim full input tax credits, but charge no consumption tax) to customers, but only if those customers are taxable businesses (defined as customers having themselves 75% taxable sales).
Jun 14, 2024 · Rather than taxing most income, Senator Cardin’s bill, S. 5031 the Progressive Consumption Tax Act (PCTA) of 2020, generates reasonable revenue by taxing the purchase of goods and services.
Jul 2, 2024 · Cardin’s bill, S. 3005, the Progressive Consumption Tax Act (PCTA), changes the way the federal government raises revenue. Rather than taxing income, the Progressive Consumption Tax (PCT) generates reasonable revenue by taxing the purchase of goods and services.
Mar 2, 2015 · Join Senator Ben Cardin to hear about his tax reform proposal to drastically lower income tax rates and improve US trade competitiveness through his Progress...
Dec 20, 2017 · Graetz has been an intellectual leader in showing how the added revenues of a broader value-added tax, or VAT, can achieve both progressive results and make the U.S. more competitive...
Apr 24, 2024 · Learn more about a progressive consumption tax to tax the wealthy, compared to taxing unrealized capital gains or imposing a wealth tax.
