The Automated Payment Transaction (APT)
The Automated Payment Transaction (APT) tax
The Automated Payment Transaction (APT) tax is a proposal in the United States to replace all taxes with a single tax (using a very low rate) on each and every transaction in the economy. The system was developed by University of Wisconsin–Madison Professor of Economics Dr. Edgar L. Feige.
The foundations of the APT tax proposal?a small, uniform tax on all economic transactions?involve simplification, base broadening, reductions in marginal tax rates, the elimination of tax and information returns and the automatic collection of tax revenues at the payment source. The APT approach would extend the tax base from income, consumption and wealth to all transactions. Supporters argue that a uniform tax might not, on its face, look progressive, but would be since the volume of taxed transactions rise disproportionately with personal income.
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