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A comment on California wants to tax companies for executive pay ratio. Parent comment

Re:California wants to tax companies for executive pay ratio by Retric on Saturday January 18, 2020 @06:52AM (#22083905)
Consumption taxes are income taxes with a loophole for whatever you exclude from the consumption side of thing. Exclude land purchases but not rent, and people have a huge incentive to buy land. The stated loophole is investment, again that’s equivalent to allowing people to deduct investments from income tax which clearly favors the wealthy.

In the end countries spend a high percentage of GDP on thing people actually want. Everything after that is just deciding who pays for it.

PS: Consumption taxes also push people to vacation and retire in different countries.

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Re:California wants to tax companies for executive pay ratio by infamia on Saturday January 18, 2020 @05:48PM (#22087919)
A consumption tax also gives the working poor tremendous levers to better their circumstances. They aren't taxed on necessities for food and folks who make under a specified amount don't pay the tax at all. Most of the potential issues you pointed out impact any taxation system (i.e. carve outs for the wealthy) because they're political/power problems.
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