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[QUOTE]Originally posted by pennyearned: [QB] Luxury taxes were imposed in ADDITION to sales taxes, property taxes, and who knows what else making such purchases less attractive. A consumtion tax would replace these (I think) and would only be imposed on those buying the items. I suppose it would work similarly to a sales tax--higher tax paid for higher priced item. I don't know what all it would replace. Or if it would be universal--not differ state to state as sales taxes do. Present system penalizes success. Richer boys buy richer toys--could afford more: if they want to. Since income taxes are mandated by law, a consumption tax format could allow one to save more by buying less, but not nessecarily have to make more to do so. Again details are sketchy, but the idea is intriguing. [/QB][/QUOTE]
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