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Alan Viard’s chapter, “Fundamental Tax Reform: A Comparison of Three Options” is a thoughtful, even-handed, and most worthwhile contribution to the analysis of major reforms that, if adopted, would move the tax system strongly in the direction of taxing consumption. The chapter nicely illustrates the complexity of the tax reform problem by exposing a range of available reform options, with an accompanying range of welfare implications. Even among tax reforms with common objectives, there can be strongly differing economic and distributional consequences. Furthermore, otherwise-similar reforms can and do appeal to very different political constituencies....


Reproduced by permission of Oxford University Press.