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Personally I don't see it as a tool to limit the accumulation of wealth. Yes, the greater your wealth, the proportion spent is generally less. But to me, unspen
by mbostleman 8y ago
Personally I don't see it as a tool to limit the accumulation of wealth. Yes, the greater your wealth, the proportion spent is generally less. But to me, unspent wealth is good. It means it's invested and providing capital for the market. Invested wealth has no real utility to its owner other than maybe helping one's credit rating and providing peace of mind.
- pjc50 8y agoInvestment provides control. Ownership of larger companies, larger areas of land and housing. Consolidation of control makes it easier to abuse. (Your consumption tax proposal would also have to mark political donations and ad spending as "consumption", or you're making the existent problems in that area far worse)