4 ms·

Wealthy people don't consume more goods than average people.

• gremlinsinc 7y ago
  They do IF you consider all out-flow as taxable goods/services... i.e. E.g. estate, investments, property, employee wages, land (would be calculated differently...not on spend but on just ownership), purchases. Investment firms would pay the tax on money paid out to investor, so it'd need to put that rate in there somewhere. If you combine this with UBI + Single Payer + Free College -- then everyone will be able to afford the taxes they will pay on goods/services at the store/etc. If the lowest safety net keeps just about everyone around 35-45k with medical safety, then they can probably afford 5-10k in VAT fees, and if they no longer peg benefits to companies -- people have more fluidity about where they work based on the fact they aren't going to lose their medicare for all. This also means those who are fine not working and living on UBI ALSO drive up the rate of pay for those who DO want to work because supply/demand of workers will go down.
• todd8 7y ago
  Yes they do.
• AdrianB1 7y ago
  They don't consume more goods, they consume goods of much higher value (ex: luxury items and fine cuisine) and services so in the end they will pay much more taxes. What else do you think they spend the money on, if not goods and services?
  • rorykoehler 7y ago
    Equities (stocks), fixed Income (bonds), real estate, commodities, futures and other financial derivatives mainly. Basically they spend their money on investments.
    • AdrianB1 7y ago
      Spend and invest in the same sentence: not good.