FEDERAL EXCISE TAX STRUCTURE

PANEL DISCUSSION

BEFORE THE

COMMITTEE ON WAYS AND MEANS
HOUSE OF REPRESENTATIVES

EIGHTY-EIGHTH CONGRESS

SECOND SESSION

ON

FEDERAL EXCISE TAX STRUCTURE

JUNE 15 AND 16, 1964

PART 2

This volume is prepared as part 2 of the hearings on the Federal
excise structures.

See subsequent parts for public testimony (July 20-31, 1964).

34-720

Printed for the use of the Committee on Ways and Means

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1964

For sale by the Superintendent of Documents, U.S. Government Printing Office
Washington, D.C., 20402. - Price 35 cents

Break, Prof. George F., professor of economics, University of California,

Berkeley-

Due, Prof. John F., professor of economics, University of Illinois.

Eckstein, Prof. Otto, professor of economics, Harvard University.

Eldridge, Prof. Douglas H., Claremont Men's College.

Harriss, Prof. C. Lowell, professor of economics, Columbia University-

Musgrave, Prof. Richard A., professor of economics and public affairs,

Princeton University--

Rolph, Prof. Earl R., professor of economics, University of California,

Berkeley.

Shoup, Prof. Carl S., Columbia University.

Smith, Prof. Dan Throop, professor of finance, Harvard Graduate School

of Business Administration___

Somers, Prof. Harold M., professor and chairman department of eco-
nomics, University of California, Los Angeles...

Stockfisch, Dr. Jacob A., Deputy Assistant Secretary of the Treasury...

MATERIAL SUPPLIED FOR THE RECORD

Smith, Prof. Dan Throop, professor of finance, Harvard Graduate School

of Business Administration, report of Committee on Turnover Taxation

(Richardson Committee)__

Stockfisch, Dr. Jacob A., Deputy Assistant Secretary of the Treasury:
Revenue cost of Prof. John Due's prority schedule for reducing Fed-
eral excise taxes, fiscal 1963 and 1965-.

Supplementary table 1. United States-Federal, State, and local
government tax revenues by source, 1961 and 1965__.
Supplementary table 2. United States-Federal, State, and local
government tax revenues by source, 1961 and 1965, as percents of
total tax yield and’GNP.

Table II-1. Direct and indirect taxes as a percent of total tax yields
and GNP, United States and eight foreign countries, 1961__

Table II-2. Excises, general sales (including turnover and value

added) and customs taxes as a percentage of total tax yields, United

States and eight foreign countries, 1961_

Table II-3. Major breakdown of indirect taxes, United States and

eight foreign countries, 1961 (percent of total tax yield) _ - -

Table II-4. Direct, indirect, and social security taxes as percentage

of total taxes, United States and eight foreign countries, 1961----

Table II-5. Direct and indirect taxes of nine countries related to

GNP and total tax yields, 1961---

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