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Intro -- VALUE-ADDED TAX (VAT) AND FLAT TAX PROPOSALS -- VALUE-ADDED TAX (VAT) AND FLAT TAX PROPOSALS -- CONTENTS -- PREFACE -- Chapter 1 SHOULD THE UNITED STATES LEVY A VALUE-ADDED TAX FOR DEFICIT REDUCTION?* -- Summary -- Introduction -- Concept of a Value-Added Tax -- Methods of Calculating VAT -- Exemption Versus Zero-Rating -- Exemption -- Zero-Rating -- Revenue Yield -- Revenue Performance -- International Comparison of Composition of Taxes -- VAT Rates in Other Countries -- Equity -- Ability-to-Pay -- Time Period -- Vertical Equity56 -- Policy Options to Alleviate Regressivity -- Exclusions and Multiple Rates -- Tax Credits -- Earmarking of VAT Revenues -- Horizontal Equity -- Neutrality -- Inflation -- Balance-of-Trade -- National Saving -- Administrative Costs -- Compliance -- VAT Registration Thresholds -- Time Required for VAT Implementation -- Intergovernmental Relations -- Encroachment on a State Tax Source -- Joint Collection -- Size of Government -- Appendix A. Credit-Invoice, Subtraction, and Addition Methods -- Appendix B. VAT Revenue Ratios in OECD -- Appendix C. General Consumption Taxes in OECD Countries -- Appendix D. VAT Rates by Country -- End Notes -- Chapter 2 A VALUE-ADDED TAX CONTRASTED WITH A NATIONAL SALES TAX* -- Summary -- Introduction -- Concept of a Value-Added Tax -- Types of VATs -- Methods of Calculating VAT -- A National Sales Tax -- Policy Implications -- Administrative Costs -- Joint Tax Collection -- Avoiding Double Taxation of Intermediate Goods and Services -- Enforcement -- Broadness of Tax Base -- Time Required to Implement -- Visibility -- Experiences of Other Nations -- Legislation in the 111th Congress -- End Notes -- Chapter 3 TAXABLE BASE OF THE VALUE-ADDED TAX* -- Summary -- Introduction -- Option 1. "Generic" Broad-Based Value-Added Tax -- Option 2. Value-Added Tax with Certain Exemptions