Do you believe a "consumption tax" would be a more fair form of taxation than the current "income tax"
Answer:
yes, a national sales tax is the way to go. It takes all the money out of the underground economy so even illegals and drug dealers have to pay. It would also let us all see just how much we really pay in taxes.
and the way it has been talked about, there woudl be exemptions for those making under a certain amount of money. Would be done in the form of a prebate if you will. That takes care of the issue with lower income people.
I think that a sales and use tax (consumption tax in your words) would be much more fair than our current income tax.
Consumption (Sales) taxes are very fair to the wealthy. By their very nature they are regressive and therefore very unfair to the poor.
It would certainly not seem fair to someone who is retiring now, because she's paid income tax on all the income she made, and now would have to pay tax again as she consumes her savings.
The United States already has consumption taxes in the form of excise, sales and gross receipts taxes. It would be a good move to plug loopholes in the sales taxes, so that they could not be avoided by mail order sales, etc. But right now total sales and gross receipts taxes account for about 90 billion of revenue (fed and state combined), just about equal to the revenue from individual income taxes.
I like the version at the link below.
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