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Veteran Advisor

Taxing consumption

replacing the unaffordable healthcare act with something more in line with traditional republican values hopefully will be on the frontburner of a John Ellis Bush administration. Let people decide how much risk they wish to pass off to insurance and what they want to shoulder....let insurance actuaries calculate rates with known parameters and let them exclude high rish segments as they choose, based on lifestyles. open up insurance competition beyond state boundaries. Encourage more HSA's, and let free market forces drive and contain costs.

 

As far as funding for the indigent, beyond current sources, why not go after targeted consumption? taxes on luxuries such as professional sport tickets, concerts, travel, etc.? if you have a 50% tax on concerts, only the performers suffer since there has to be a limit on what people will pay to go, and the amount charged is not going to go up....just the consumption tax will keep the aging rock stars from reeling in quite as much. Same with the professional athletes, etc.

6 Replies
Senior Contributor

Re: Taxing consumption

I would add to your list with any personal vehicle selling at over $50,000.

also add houses over $400,000, boats over $30,000, l could add more but the Vet showed up, gotta go.

Veteran Advisor

Re: Taxing consumption

Yes, and the elimination of the home mortgage deduction would be something that the time has probably come for, but the intense lobbying would make that one a hard sell. Hopefully that will be part of the tax overhaul that is coming, but being postponed as we wait out the long and tiresome lame duck period...in this case, a 8 year wait.

Advisor

Re: Taxing consumption

I don't have a quarrel with it from a moral point of view but in a practical sense there is currently a global excess of capacity (capital) and a dearth of consumptive demand.

 

That sounds like the sort of idea that Jack Kemp could make sound entirely reasonable until you realized that he really had been hit on the head too many times.
 

Advisor

BTW

If you haven't noticed, there's been a quantum shift in the economic discourse recently.

 

Being against the gubmint is OK by the corporate state as long as it rolls back government oversight and increases their power.

 

But when push comes to shove and a slide into deflation looks imminent, they expect the gubmint to bail them out with NIRP, more QE, whatever, just like farmers.

 

That makes the Tea Party crowd particularly problematic as they haven't gotten the memo.  that's particualrty true insofar as the Fed actions really haven't done that much- it was the fiscal power of deficit spending that pushed us out or the grips of depression and as the deficit shrinks with recovery, it stalls (among other things).

 

Anyway, I don't know where it comes from but I'm anticipating a big push to go back to the original plan- either Jeb! or Hillary, who the Deep and Corporate States are entirely comfortable with.

Veteran Advisor

Re: Taxing consumption

And don't forget those big combines and tractors.  A 40-50% luxury tax on them would help also.

Advisor

Re: Taxing consumption

I'm absoutely certain that the first item on the McCain-Palin agenda would have been to eliminate the home mortgage deduction.. Didn't they campaign vehemently con that. Sheeze.