3 ms·

Encouraging people to frivolously spend on luxury instead of saving is a terrible idea.

• jxidjhdhdhdhfhf 3y ago
  You just described the entire economy. It's worked out pretty well actually. All spending is someone else's income, which can then be taxed again.
  • jules 3y ago
    By spending on luxury such as expensive restaurants and hotels, you cause the economy to allocate talent and capital toward the production of those luxury goods and services, rather than toward longer term investment. Making it so that old people burn up their built-up wealth in that way is not good. It would be much better to gather the equivalent amount of tax elsewhere, if you insist that we must do so (such as with a VAT on luxury goods and services!).
• legolas2412 3y ago
  Encouraging rich people to spend, and using that money to better support poor and working class people is a great idea.