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The transition would be brutally unfair as everyone with savings would essentially be double taxed. It's super regressive and allows tax free investment growth
by dahdum 5y ago
The transition would be brutally unfair as everyone with savings would essentially be double taxed.
It's super regressive and allows tax free investment growth, so the rich will get richer and low/middle class forced to consume less. Despite exacerbating income and wealth inequality, it might reduce CO2 through reduced consumption. I can't see how it would ever be worthwhile to switch, but maybe if you started your society that way you could continually tweak it.
- tomjen3 5y agoYou could except current savings and not have consumption taxes on basic goods which is already the case in certain places.
- jelliclesfarm 5y agoMaybe it will change our society from a monetary one to a liveable one. Everything we do now is measured in terms of money. Define ‘rich’. For the longest time, everyone was able to be happy without money. Consumption tax would remove the power money has over society.