> Consumption as a fraction may be smaller but as a number it's much larger.
The current status is one with progressive tax rates where people with higher incomes pay a higher percentage of their income in taxes. This is still not enough due to loopholes, etc.
The person I replied to complains about "ruling class" and proposes (presumably as a way to mitigate the ruling class' accumulation of wealth) tax on consumption.
Since the fraction of income used for consumption decreases with income, a consumption tax corresponds to a regressive income tax (higher income -> lower tax rate). This is much worse, penalizes the poorest and leads to much worse wealth inequality than the existing system.
The current status is one with progressive tax rates where people with higher incomes pay a higher percentage of their income in taxes. This is still not enough due to loopholes, etc.
The person I replied to complains about "ruling class" and proposes (presumably as a way to mitigate the ruling class' accumulation of wealth) tax on consumption.
Since the fraction of income used for consumption decreases with income, a consumption tax corresponds to a regressive income tax (higher income -> lower tax rate). This is much worse, penalizes the poorest and leads to much worse wealth inequality than the existing system.