I've always thought of art as consumption. The one time we sold a work of art because it had appreciated greatly in value (from a very low base) is something we regret. Because we liked the painting and now we miss it.
I am wholeheartedly against a consumption tax. I freely admit to talking my own book when I state this. I am in my 60s. My whole adult life I have paid taxes on earned and investment income and saved so that I can spend down my money in retirement. Now the author would have me take those hard-earned and after-tax dollars and pay tax on whatever I choose to consume. No thank you.
I've always thought of art as consumption. The one time we sold a work of art because it had appreciated greatly in value (from a very low base) is something we regret. Because we liked the painting and now we miss it.
Is there really any chance of a coherent economic policy from either policy getting through the Congress ?
There’s not a chance of anything getting through Congress. Even when Trump had a majority in both houses they only were able to pass the tax bill.
I am wholeheartedly against a consumption tax. I freely admit to talking my own book when I state this. I am in my 60s. My whole adult life I have paid taxes on earned and investment income and saved so that I can spend down my money in retirement. Now the author would have me take those hard-earned and after-tax dollars and pay tax on whatever I choose to consume. No thank you.