Quote:
Originally posted by ltl/fb
How would you make a consumption tax progressive? The tax form would be total income - savings, and you get taxed progressively on the difference?
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Let everyone create "Consumption Savings Accounts" Any contribution is deductible against income--no limits on contribution amounts. Any withdrawal is reported as income in the year it is made. Tax tables like they are now. "Net income" * applicable rate=tax owed.
