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Hence allowing individuals to not have income tax but instead have deductions based on consumption as that stimulates the economy.
by satvikpendem 3mo ago
Hence allowing individuals to not have income tax but instead have deductions based on consumption as that stimulates the economy.
- dpark 3mo agoI don’t know what this means. You’re hand waving “based on consumption”. There is no magic deduction that turns an income tax into a consumption tax. Also you seem to have reversed your stance and are basing deductions on consumption. So the exact opposite of a consumption-based tax.
- satvikpendem 3mo agoYeah, looks like I reversed it, my bad. But it's an interesting model, not taxing consumption at all but savings instead (not necessarily investment as something like a 401k would still be untaxed).