[azcap]

What is a PCT (Progressive Consumption tax)? Is that where I tell the clerk at Walmart that I am a "rich capitalist" and then she charges me a higher sales tax than the welfare queen behind me???

[wolfpat]

I surprized you would ask such a question. It's very clear:

The plan is a bifurcated subtraction-method VAT where labor compensation is deducted at the business level and taxed at the individual level at progressive rates of 15, 25 and 35 percent. All business investment is expensed and interest is generally neither includible in nor deductible from the tax base.23 To conform to the President’s directive that tax reform recognize the importance of owner-occupied housing, the PCT includes a 15 percent nonrefundable capped tax credit for home mortgage interest payments.

See?