IGX

The "Inconvenient Truth" thread reminded me of This. NPR had a panel of 6 economists of various political persuasions come up with a list of 6 policies they all agree on.

One: Eliminate the mortgage tax deduction....

Two: End the tax deduction companies get for providing health-care to employees.....

Three: Eliminate the corporate income tax....

Four: Eliminate all income and payroll taxes....Instead, impose a consumption tax, designed to be progressive to protect lower-income households.

Five: Tax carbon emissions....

Six: Legalize marijuana....

Other policies politicians hate despite wide support from economists of all (or most) political leanings include free trade, and eliminating subsidies to agriculture and sports teams.

What does a progressive consumption tax look like?

ditto what Turd asked. In for deets.

"various political persuasions" - one guy who's kinda-sorta 'left of center.'
economist bullshit detector goes off whenever someone talks about structuring regressive taxes so they "protect lower-income households" - that shit doesn't happen in the real world

milosz wrote:"various political persuasions" - one guy who's kinda-sorta 'left of center.'

Dean Baker is much further left of center than the quote you're referring to indicates.

There are different ways to implement a "progressive consumption tax". The simplest one I know of, advocated here by Lawrence Kotlikoff is a straight sales tax combined with monthly payments from the government that depend on the number of people in the household. The monthly payments are large enough to ensure that poor households pay no (or negative) net taxes. The average tax rate paid by households then rises with income because the fixed monthly payment is a decreasing proportion of their income.

Other plans impose taxes that are equivalent in some way to a VAT or sales tax, but make it easier to exempt a certain amount of income and incorporate programs like EITC. For example, Robert Frank proposes a tax on earnings minus savings and a large deduction. (For those keeping score, Frank is also "left of center".) Here's a description of a more complicated plan published by the (not left of center) AEI.

What about a seventh? A political bullshit tax? Basically a tax for every word a politician or political analyst utters?

Or an eighth? A 100% tax on GSA bonuses?

Pinky wrote:The "Inconvenient Truth" thread reminded me of This. NPR had a panel of 6 economists of various political persuasions come up with a list of 6 policies they all agree on.

One: Eliminate the mortgage tax deduction....

Two: End the tax deduction companies get for providing health-care to employees.....

Three: Eliminate the corporate income tax....

Four: Eliminate all income and payroll taxes....Instead, impose a consumption tax, designed to be progressive to protect lower-income households.

Five: Tax carbon emissions....

Six: Legalize marijuana....

Other policies politicians hate despite wide support from economists of all (or most) political leanings include free trade, and eliminating subsidies to agriculture and sports teams.

I'd support all 6 six if they were implemented all at the same time. Actually implant 3 & 4 and 1&2 are a moot point.

Much to sane for those wishing to control us and engage in social engineering. Our current tax code is a fucking joke. Anyone from the outside looking in, could accurately guess we are a bunch of masochist dumb shits.

Turdacious wrote:What does a progressive consumption tax look like?