Discussion: Income Tax Vs Consumption Tax
After completing the lecture and reading assignments, write a 500-word response to the following question. Do not use the task in your response.
• How could the current personal income tax be modified so that it becomes a consumption tax? In what way can consumption be regarded as a better index of ability to pay taxes than income? Does an income tax penalize the saver while a consumption tax does not?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.