RE: taxes

["Alan G. Isaac" <AISAAC@xxxxxxxxxxxx>]

Bruce, I'm confused. I thought you were trying to claim a
consumption tax would not tax wealth. I mentioned taxation
of wealth as a virtue of a consumption tax, in contrast with an
income tax. You may _also_ want an income tax, but an
income tax only taxes wealth to the extent that wealth
generates measured, taxable income flows.

You also haven't indicated why you believe that a consumption
tax that didn't apply to basic foodstuffs and (capped) rent
would necessarily be regressive. Without any figures in hand,
I'd guess it would be more progressive than the current
system.

--Alan G. Isaac