3 ms·
Ok, sure, you save your excess income. Then, later, one of two events happen: 1. You spend the savings, and pay consumption tax 2. You die, and pay the estate
by dogruck 9y ago
Ok, sure, you save your excess income. Then, later, one of two events happen:
1. You spend the savings, and pay consumption tax
2. You die, and pay the estate tax.
- jermaustin1 9y agoThe difference is that in an economic down turn, I am protected by my vast wealth, where a poor person has no savings because they spend every dollar they have on necessities. A consumption tax is always regressive.