> Consumption as a fraction may be smaller but as a number it's much larger. The current status is one with progressive tax rates where people with higher inco

> Consumption as a fraction may be smaller but as a number it's much larger. The current status is one with progressive tax rates where people with higher incomes pay a higher percentage of their income in taxes. This is still not enough due to loopholes, etc. The person I replied to complains about "ruling class" and proposes (presumably as a way to mitigate the ruling class' accumulation of wealth) tax on consumption. Since the fraction of income used for consumption decreases with income, a consumption tax corresponds to a regressive income tax (higher income -> lower tax rate). This is much worse, penalizes the poorest and leads to much worse wealth inequality than the existing system.