Reports are blossoming all over the 'net about Greenspan's comments regarding a "consumption" tax.
The first kind of consumption tax that would spring to most minds is a simple sales tax. Other would imagine something more along the lines of the European states' VAT. A broader view would tax anything that wasn't saving (read down, it takes a bit). Of course, a consumption tax is criticized for being regressive, among others.
In any case, it seems worthwhile to investigate, as God - I mean, Greenspan - has spoken in favor.
Posted by binky at March 3, 2005 12:53 PM | TrackBack | Posted to Economicsi'm sorry; was "blood on the handkerchief" a consumption joke? just curious.
Posted by: joshua at March 7, 2005 10:03 AM | PERMALINK