Ray From Cleveland
Diamond Member
- Aug 16, 2015
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But a consumption tax would fix inflation. It would slow purchasing which would lower prices.
No because we're only talking (at first) a few cents on the dollar. As they spend more the tax increases to cover that additional spending which people would not like very much. Instead of spending less we'd be voting people out that are responsible for our consumption tax increases because of unnecessary spending.
It wouldn't hurt the economy at all. We have an .08 cent consumption tax where I live. 5 cents is state tax and 3 cents is for the county.