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Depends what is being taxed. Staples could be excluded, while luxury items taxed more heavily.
by neonstatic 3mo ago
Depends what is being taxed. Staples could be excluded, while luxury items taxed more heavily.
- snovv_crash 3mo agoSenate argument: "This poweryacht is necessary for my donor's livelihood of entertaining billionaires"
- fyredge 3mo agoThis argument kind of illustrates why consumption tax is better. It's easy to advocate "lower taxes for everyone!" giving rich people most of the benefit, but it's much harder to advocate for "lower yacht tax!" without pissing off a whole bunch of wage workers.
- snovv_crash 3mo agoHave you seen the US tax code?
- shinryuu 3mo agoGenerally agree here. The other question / issue here. Would a consumption tax actually bring in an equal amount of revenue? My intuition says no.