Do you have thoughts on pros and cons of this relative to progressive consumption tax? (I agree they’re mostly equivalent and both good).
I think consumption tax has an advantage in terms of perceived fairness in that it (almost) guarantees you won’t get years where e.g. Jeff Bezos pays literally zero taxes, which look pretty bad. Whereas these reforms could give you years where his taxes are highly negative, which would look worse.
Do you have thoughts on pros and cons of this relative to progressive consumption tax? (I agree they’re mostly equivalent and both good).
I think consumption tax has an advantage in terms of perceived fairness in that it (almost) guarantees you won’t get years where e.g. Jeff Bezos pays literally zero taxes, which look pretty bad. Whereas these reforms could give you years where his taxes are highly negative, which would look worse.