Taxing Spending
Here in Australia, there's been the GST, the Goods and Services Tax, for a few years already. The GST applies to everything you spend money on, with the exception of "essential food items." But a coffee, pay a tax. Hire a lawyer, pay a tax. 10% of the purchase is tax. In New Zealand, I understand it's 15%. Is that, essentially, what Alan Greenspan is proposing? In would be a big shift, but it sounds more like a ploy to distract everyone from privatizing Social Security.