Michael Stumo on Consumption Taxes and Trade in California

I gave one of the presentations at our  CPA event in Brea, California, called “Manufacturing in the Golden State,” last week. My role was to discuss the global trade disadvantage the U.S. faces because of our near-exclusive reliance on non-border adjustable taxes – like income tax.  The presentation discusses that trade problem and how to think about addressing it through tax reform to include adding consumption taxes while reducing income and/or payroll taxes.  In other words, decrease reliance on non-border adjustable taxes and increase reliance on border adjustable taxes.

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