Tax shift
From The Art and Popular Culture Encyclopedia
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Tax shift or Tax swap is a change in taxation that eliminates or reduces one or several taxes and establishes or increases others while keeping the overall revenue the same. The term can refer to desired shifts, such as towards Pigovian taxes (typically sin taxes and ecotaxes) as well as (perceived or real) undesired shifts, such as a shift from multi-state corporations to small businesses and families.
Proposed or introduced
The following table lists tax shifts that have been proposed or introduced:
| Name, location, proponent, source | From | To | Claimed benefits |
|---|---|---|---|
| Green tax shift (see ecotax) | various | ecotax | environment |
| Tax Shift for the Pacific Northwest (Durning & Bauman 1998) | personal, corporate income tax, payroll tax, property tax, sales tax | carbon tax, pollution tax, traffic tax, sprawl tax (Land value tax), resource consumption tax | environment; public health; reduction of gridlock; countering
speculation; equity; administrative ease |
| Property tax shift (PTS) | sales, income, and buildings | Land value tax | housing supply; sprawl; equity |
| Philadelphians for Land Value Tax Shift | tax rates on structures | land-value tax | economic development, countering speculation |
| Illinois | property tax | individual and corporate income tax | extra unearned income for landowners |
| Mississippi Tennessee | Grocery or food tax | cigarette tax | public health; support for basic needs |
| Wyoming Tax Swap | sales tax, use tax, and business personal property tax | flat income tax | |
| FairTax | personal income tax, payroll tax, corporate tax, capital gains tax, self-employment tax, gift tax, estate tax | national retail sales tax with rebate | provide tax burden visibility; reduce compliance costs; global competitiveness |
Other uses
Tax swap can also refer to the sale of a security that has declined in price since its purchase and the simultaneous purchase of a similar but not identical security, in order to realize a loss for tax purposes while maintaining a position.
See also
