Good Hybrids/Bad Hybrids

In the second article I published as an academic, in 1992, “Tax Policy Under Hybrid Income – Consumption Tax,” I wrote that: the tax policy literature has spent decades, and by some measures centuries, discussing the relative merits of an income versus a consumption tax. It may be time to stop. We should accept the fact of a hybrid income-consumption tax and begin to figure out how best to structure it.[1]…