Raising Money For Education Book

I can feel where he's trying to get at with this, and his idea of a consumption tax based on what is not saved rather than saved is a unique way of approaching it. But he seems to worship the idea of savings being moral, right, and just. How rich people saving will naturally lead to inequality being broken. His opposition to estate taxes because he thinks that unlimited donations to children is fine so long as we tax their consumption misses the point of wealth.

He worries about inequality of spending, inequality of lifestyle, that if we curb the extravagance of the rich they'll make less and the poor will make more. He doesn't factor in that after a million dollars or so, all that money is just status. People get money to have it and hold it. The specious argument that saving is a moral good is weak at best, and all the more amusing in his mention of how the last time we had that problem was the Great Depression....

The bottom line is some parts of his concept make sense for a better alternative to the income tax, albeit the implementation to make things fair to the poor will be more difficult. But his blind faith in frugal rich people lowering inequality and the elimination of an estate tax is just...no.