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Which one of the following is correct about the consumption tax system?
Which one of the following is correct about the consumption tax system?
The consumption tax system provides less incentive for people to work than the current progressive tax system.
Regardless of the percentage of tax charged by the government, the consumption tax system provides more revenue to the government than the current progressive tax system.
The consumption tax system taxes essential goods and services only and thus generates a significant revenue stream for the government.
In the consumption tax system even people that hold illegal jobs pay taxes.
The consumption tax system is more complicated that the current progressive tax system. This increases the need for accountants and IRS workers and thus increases employment in the overall economy.
