Jump to ContentJump to Main Navigation
Why Philanthropy MattersHow the Wealthy Give, and What It Means for Our Economic Well-Being$
Users without a subscription are not able to see the full content.

Zoltan J. Acs

Print publication date: 2013

Print ISBN-13: 9780691148625

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691148625.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 26 June 2022

Changing the Tax Laws

Changing the Tax Laws

Chapter:
(p.200) Epilogue Changing the Tax Laws
Source:
Why Philanthropy Matters
Author(s):

Zoltan J. Acs

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691148625.003.0008

This epilogue discusses two issues and how to deal with them: the indiscriminate use of income for personal consumption and the use of wealth for maintaining a class structure. Robert Frank suggests that the way to deal with indiscriminate use of income for personal consumption is to institute a progressive consumption tax. A progressive consumption tax has been supported by both the Right and the Left. Even Milton Friedman suggested in a 1943 article that a progressive consumption tax is the best way to reduce conspicuous consumption and encourage investment. With respect to the use of wealth to maintain a class structure, the epilogue explains why we need an estate tax. It argues that the estate tax is important for sustaining philanthropy, which has been wedded to promoting opportunity creation and innovation throughout American history.

Keywords:   income, personal consumption, wealth, class structure, Robert Frank, consumption tax, estate tax, philanthropy, opportunity creation, innovation

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.