X tax
The X Tax is an approach to taxation conceived by Princeton University economist and New York University School of Law professor David F. Bradford,[1] It consists of two taxes:
The reason an X Tax is considered to be a consumption tax is because, unlike the income tax, it doesn't introduce a "double-tax on savings."[4][5] The X Tax is intended to streamline the tax code, foster economic expansion, and preserve progressive taxation. Additionally, it seeks to stimulate savings and investments by eliminating double taxation. Under the X Tax, financial transactions and instruments are not subject to taxation for both individuals and corporations. Bradford argues that "the government should exempt from taxation all dividends, interest, and other income from savings. That way, people will be treated equally by the tax system, whether they choose to spend now or save to increase their future spending power."[6] See alsoNotes
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