A consumption tax is a tax on spending on goods and services. The tax base of such a tax is the money spent on consumption. Consumption taxes are usually indirect, such as a sales tax or a value added tax. However, a consumption tax can also be structured as a form of direct, personal taxation, such as the Hall–Rabushka flat tax.
Read more about Consumption Tax: History, Savings Effect, Practical Considerations, Economic Impact
Famous quotes containing the words consumption and/or tax:
“So it is with books, for the most part: they work no redemption on us. The bookseller might certainly know that his customers are in no respect better for the purchase and consumption of his wares. The volume is dear at a dollar, and after to reading to weariness the lettered backs, we leave the shop with a sigh, and learn, as I did without surprise of a surly bank director, that in bank parlors they estimate all stocks of this kind as rubbish.”
—Ralph Waldo Emerson (1803–1882)
“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)