外文翻译---美国的增值税：一种解决方案(编辑修改稿)

外文翻译---美国的增值税：一种解决方案(编辑修改稿)内容摘要：

lth spending. Under such a system, the additional health insurance coverage would help offset the regressivity of a VAT and make the costs of both the VAT and government spending more transparent. Inflation The creation of an addon VAT will create pressure on prices. (If, instead, the VAT were replacing a sales tax, there would be no pressure or need to adjust the price level.) In our view, the Fed should acmodate the onetime price rise inherent in the creation of an addon VAT. Not doing so would create significant and unnecessary adjustment costs in terms of lost jobs and wages. But there is no theoretical or empirical reason to expect that the VAT would cause continuing inflation. Indeed, the presence of an additional revenue source would reduce the likelihood of the Fed having to moize the debt. Research has found only a weak relationship between the VAT and continually increasing prices. In a survey of 35 countries that introduced the VAT, Tait (1991) finds that 63 percent exhibited no increase in the consumer price index (perhaps because they were replacing existing sales taxes) and 20 percent had a onetime price rise. In the remaining 17 percent of cases, the introduction of the VAT coincided with ongoing acceleration in consumer prices, but it is not likely – in Tait39。 s view – that the VAT 5 caused the acceleration. The Canadian VAT In 1991, Canada implemented a 7 percent VAT at the national level to replace a tax on sales by manufacturers. Many of the concerns associated with the VAT in the United States can be assuaged by observing the Canadian experience. Canada addressed distributional concerns by applying a zero rate to certain necessities and adding a refundable tax credit in the ine tax. As noted above, we prefer the latter method. The Canadian VAT is pletely transparent: it is listed separately on receipts just like sales taxes in the . Perhaps because of the transparency, the VAT has not led to significant growth of government spending. Federal spending in Canada has in fact gradually declined from percent of GDP in 1991—when the VAT was implemented—to percent in 2020. The standard VAT rate has declined over time to 6 percent in 2020 and 5 percent in 2020. Federal tax revenue in Canada has fallen from percent of GDP in 1991 to percent of GDP in 2020 (and fell further to percent during the 2020 recession). In terms of both revenues and expenditures, the size of the Canadian federal government has shrunk significantly since the introduction of the VAT. Since 1991, Canadian inflation and economic growth rates have been similar to those in the United States. Coordinating provincial sales taxes with the VAT has proven to be challenging, but manageable. After the VAT was introduced, provinces over time began to coordinate their sales taxes with the federal VAT. By July 2020, five of the 10 provinces will have ―harmonized‖ VATs, making their provincial tax bases essentially identical to the federal base. In these cases, the federal government administers the provincial tax on behalf of the province, and the provincial governments set their own VAT rate. Quebec administers its own VAT。 three provinces will administer their own retail sales taxes. One province and the three territories have no consumption tax. The . could acmodate a variety of state choices regarding consumption taxes in similar fashion. An American VAT The structure of an American VAT should include: 6 o a very broad base。 o rebates or ine tax credits (rather than product exemptions) to achieve progressivity。