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@itsALLrisky · Nov 15, 2021
What do you think of a tax structure where there's only a sales tax?
So that rich folks who buy a lot of stuff would get the largest tax burden, and low-income families who don't buy much would pay the least
This would punish extravagant purchases instead of capital-building
Elon Musk
@elonmusk
Agreed, taxes are best applied to (especially extravagant) consumption, whereas capital allocation taxes reduce goods & services output, so actually bad for the people.
Probable capital allocation skill of heirs is lower than original creator, so I am in favor of an estate tax.
05:36 PM · November 15, 2021 · 0 views
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