Legal & Policy Challenges

Consumption Tax instead of income tax

Our current Income tax system:

1) taxes personal and business production and is an imposed burden and disincentive.

2) gives rise to the myriad shell company, loop-hole exploiting, tax-dodging financial complexities that litter our financial environment.

3) taxes only those who can least afford it and rewards those who can afford to "hide" their earnings, legally or otherwise.

 

A Consumption based tax:

1) lets individuals and businesses keep what they earn and utilize it as they see best.

2) catches all consumers from drug dealers and criminals (who pay no income tax) to the wealthiest consumers who have figured out how to avoid income tax. This puts MORE MONEY into government coffers -- not less.

3) protects those who consume the least, by choice or by income level, and ensures fair participation from those who consume the most.

Tags

Voting

85 votes
Active
Idea No. 1238