This is stupid. There is no consumption without production and not production without consumption. So this notion that one is immoral and should be taxed is just a scam against common sense.
Of course the real problem is a whole bunch of scams, including this one, to shift the tax burden further away from the rich. 10% on all income and 16% VAT on consumption. What a bargain for the gazillionaires.
You understand that “gazillionaires” are generally people in a position to pass their taxes onto others, right ?
Raise tax rates on CEOs and investors in order to lower tax rates for the middle class and you just see higher prices to pay higher CEO salaries and higher dividends to investors.
Why not, when the middle class consumers now have more money to spend due to their own lower tax rates ?
Attempts to “tax the rich” are a red herring.
Some nations are incentivized to consume rather than save.
Other nations are incentivized to produce and save.
For example — free trade has a terrible batting average that encourages more consumption and lags behind in production.
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Pat Buchanan:
Academics revere Adam Smith, David Ricardo and Richard Cobden.
But none of them ever built a great nation. Patriots look to Alexander Hamilton and those post-Civil War Republicans who built the greatest national industrial powerhouse the world had ever seen.
Indeed, what great nation did free trade ever build?
As father of a united Germany, Chancellor Bismarck said, when he decided to build Germany on the American and not the British model, ‘I see that those countries which possess protection are prospering, and that those countries which possess free trade are decaying.’
[unquote]
http://www.freerepublic.com/focus/news/3399142/posts