“Yet another reason for a consumption based tax—who cares where you stash your money if the taxes are assessed when you spend it?”
And when the bulk of the money gets spent offshore? Make your money tax free and spend it overseas. Great system for everyone that can afford to do it, but it would suck the high hard one for everone stuck paying an extra 33% tax on everything they buy.
Do you really think that will happen to a significant extent? I think most money earned in the country is spent in the country.