@Jesse_Livermore instead of taxing consumption we should tax saving (wealth). World does not have excess consumption right now.
Consumption taxes make a lot more sense than income taxes, if you understand that consumption is partly wasteful signaling.https://twitter.com/mmay3r/status/830278916887633921 …
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it's not an accident the best performing advanced economy (US) is the only one without a VAT.
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"dépense", as Bataille called it. Fundamental part of many pre-State societies' regimes of social (re)production.
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But consumption taxes hit the poor more. IMO if you exclude food, housing and energy, maybe they make sense.
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Makes great sense to me.
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Drop income tax, add consumption tax. This is tax neutral for most people except retired Boomer savers and who cares about them.
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and if we have excess consumption we can tax it then. Silly to talk about it now- like Japan's recent tax hike.
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All taxes are ultimately taxes on consumption.
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