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I 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
by dpark 3mo ago
I 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).