Something like 60% of consumer spending is by the top 5% of income earners.
This is actually a tax on the rich. And they won't care about higher prices.
This is actually a tax on the rich. And they won't care about higher prices.
Rich people will pay more for their food too, but they can afford to - they are rich.
Nope, it's a tax on everyone. Rich people will pay more of it, but non rich people will be harder hit as % of income. Same as sales tax/VAT.