[1] Jorgenson states that the plan would provide big gains in economic efficiency that would result from making the tax treatment of income from corporate, non-corporate and household property the same.
[2] The plan has been discussed before the United States Congress but a bill has not been introduced.
Taxes on new investments by households would be collected by car dealers, real estate developers, and other providers.
These would not apply to existing home owners and would protect property values.
Jorgenson states that the Efficient Taxation of Income could be implemented without cumbersome transition rules.