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Must-Read: Marshall Steinbaum: Hottest Tax Idea in Washington Actually Terrible - Washington Center for Equitable Growth
The ‘consumption tax’… transcends political divides in Washington…
…instead of taxing wealth or income, the government should encourage people to save by taxing only their spending… Rubio… Lee… Cardin…. Too bad they’re all wrong…. The theoretical arguments in favor of consumption taxes are typically based on the injustice of penalizing thrift by the poor. But those are just fables: Saving is overwhelmingly a pastime of the rich…. [It] might sound great in theory, but one that would be revenue and distributionally neutral would create tremendous smuggling opportunities and thus be impossible to enforce…
If the Rise of the Robots Is Moved from the Ten-Year to the Fifty-Year Agenda, What Replaces It on the Ten-Year Agenda?: Focus - Washington Center for Equitable Growth
There are the different agendas at different time frames–say two years, ten years, and fifty years. The smart young whippersnapper Marshall Steinbaum reports on the growing consensus that dealing with the Rise of the Robots is on our fifty-year agenda, and not on our two-year or our ten-year agenda