Consumption Tax?
Those of you who have read my posts will be surprised to discover that I favor decreasing the income tax and savings (e.g. capital gains) taxes in the United States. How can that be the case?
The reason is that I support implementing a highly progressive consumption tax in the Unites States.
Now, the objections to progressive taxation tend to rest on incentive arguments i.e. "If you tax income or invesments too highly, people won't work as much or invest as much."
So, why don't we comprimise and implement a progressive consumption tax, allowing us to reduce the other taxes and reduce inequality?
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