Tax reform consists of replacing personal and corporate federal income taxation with: (1) an 11 percent flat-rate income tax, or (2) a 14 percent flat-rate tax on personal consumption, or (3) a 14 percent value-added tax (VAT), or (4) a 16 percent federal retail sales tax with the same effective tax rate as the tax on personal consumption and the VAT. The first reform taxes all income at one low rate. The next three reforms tax all consumption at one low rate. Under each tax reform, the new tax is rebated to the lowest one-third of income earners. All four tax reforms are more progressive than the current system. John Goodman, Laurence Kotlikoff, Hans Fehr and Sabine Jokisch