This paper reviews Harry Grubert's contributions to the theory of consumption taxation, focusing on Grubert and Mackie (2000). Grubert and Mackie argue that financial services are not consumption and, therefore, need not be a direct part of the consumption tax base. Instead, financial services are like machines that transform resources over time or states of nature and, therefore, should be taxed like other machines in a consumption tax. The paper argues that Grubert and Mackie's theory is correct under the key assumption that the output of financial services (such as a higher level of consumption at a given time or state of nature) is taxed. If the output is not taxed, financial services should be taxed in the same way that durable goods are taxed.

中文翻译：

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消费税下的金融服务：重新审视格鲁伯特和麦基（2000）

本文回顾了哈里·格鲁伯特（Harry Grubert）对消费税理论的贡献，重点是格鲁伯特（Grubert）和麦基（Mackie）（2000）。Grubert和Mackie认为，金融服务不是消费，因此不必成为消费税基础的直接组成部分。取而代之的是，金融服务就像是随着时间或自然状态改变资源的机器，因此应该像其他机器一样在消费税中征税。本文认为，在关键假设下，对金融服务的产出（例如在给定时间或自然状态下较高的消费水平）征税，Grubert和Mackie的理论是正确的。如果不对产出进行征税，则应以对耐久财征税的相同方式对金融服务征税。