In this issue of Tax Policy Outlook, Robert Carroll, Alan D. Viard, and Scott Ganz explore the potential of the Bradford "X tax" as a viable, progressive consumption tax to replace the income tax.

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According to conventional wisdom, the economic well-being of all but the wealthiest Americans has stagnated or declined over the past twenty-five years. Christian Broda and David E. Weinstein argue that this idea is based upon misleading measurements of wealth and poverty.

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