The Progressive Value Added Tax (Fiscal Policy) as a Tool of Inflation Targeting: Is a Higher Inflation Target Plausible?

Abstract

Premised upon taxable income the regressive Value Added Tax or Goods and Services Tax through VAT/GST Tax Returns would become progressive in nature with a CPI adjusted cost of living allowance tax credit or rebate that solves the purchasing power of income index and the Fisher Equation allows up to a 15% inflation target without the costs of inflation?