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:
“What happens is that, as with drugs, he needs a stronger shot each time, and women are just women. The consumption of one woman is the consumption of all. You can’t double the dose.”
—Ian Fleming (1908–1964)
“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)
Related Phrases
Related Words