Scrap It All For A Consumption Tax | Intellections

A uniform consumption tax would allow the government to raise revenue with minimal impact on the economy. It would replace personal, corporate, and estate taxes, operating as either a national sales tax or a value-added tax. The tax would simplify the tax code, incentivize savings and investments, eliminate complex tax maneuvers, and promote transparency in politics.
For more information, visit the PolicyEd page here: www.policyed.org/intellection...
Additional resources:
Read “A Consumption Tax Is the Shock Our Broken System Needs,” by John Cochrane via the Wall Street Journal. Available here: www.wsj.com/articles/the-fair....
Watch “Does Government Debt Matter Anymore?” with John Cochrane on PolicyEd. Available here: www.policyed.org/perspectives....
Read “Myths of Economic Inequality,” by David Henderson. Available here: www.hoover.org/research/myths....
Read “‘Trickle Down’ Theory and ‘Tax Cuts for the Rich,’” by Thomas Sowell. Available here: www.hoover.org/sites/default/....
Watch “How Government Policy Inflates Health Care Costs: The Curse of Cross-Subsidies,” with John Cochrane on PolicyEd. Available here: www.policyed.org/perspectives....
Visit www.policyed.org to learn more.
- Subscribe to PolicyEd’s TH-cam channel: bit.ly/PolicyEdSub.
- Follow PolicyEd on Twitter: bit.ly/PolicyEdTwit.
- Follow PolicyEd on Instagram: bit.ly/PolicyEdInsta.

[@jvb5590]

SO HAPPY THAT POLICYED HAS UPLOADED ANOTHER ANIMATED VIDEO! Please, PolicyEd, keep on posting more animated videos - just like you were doing years ago; your animated videos is why your channel grew so much!

[@Anti-CornLawLeague]

Scrap it all for a land value tax.

[@robinsss]

land s an essential so i reject taxing it
iif the land will be use for a non essential purpose like business the tax it
if iti's to live on for the buyer then no sales tax

[@aliendroneservices6621]

1:10 Also known as UBI (Universal Basic Income). You don't need a distortive tax on trade in order to implement UBI.

[@robinsss]

just tax non essentials at a low rate - 3% - and exempt non essentials

[@gdietz2]

I agree with all that!

[@TENZEN._.]

I love this idea! Let’s make it happen. Sign me up! My comment is simple but so was that horseshoe.

[@mountainmama0709]

It's an interesting idea. People who make under a certain amount don't pay taxes so this would hurt them to pay more on the basic items they need. If there were to be a cap, then that takes the burden off the rich and shifts it to everyone else. I'm also wondering what that would do to the GDP. But, maybe.

[@NAUM_Areas]

Wouldn't the exemption up to a certain amount mentioned at 1:15 make it so those making less wouldn't have to pay more?

[@dr.kevorkian7535]

1:25 and that's why it'll never happen.

[@lokivato]

Looks good in animation

[@aliendroneservices6621]

0:08 That's a tax on trade. It's distortive. The best tax is actually *_congestion-pricing._*

[@theoh7324]

Know what you're watching is coming from:
The Hoover Institution is influential in the American conservative and libertarian movements, and the Institution has long been a place of scholarship for high profile conservatives with government experience. A number of fellows have connections to or positions in the Bush administration, and other Republican administrations.
...
A sales tax massively benefits the wealthy elite who could never spend their fortune in a lifetime. It allows them to continue transferring their money into different places to exert their power over our government and our industries

[@aliendroneservices6621]

0:33 You're bribing people to be wasteful.