Switching entirely to consumption tax is a billionaires dream. Dropping corporate income tax is a CFO’s dream. (Whoever wrote the line about how reinvested money shouldn’t be taxed is also an idiot. Taxes are on profits. Money reinvested in the business becomes an expense and so is not taxed. What is discouraged through business taxation is sitting on large corporate coffers.)
> Tuesday's show presented the common-sense, no-nonsense Planet Money economic plan — backed by economists of all stripes, but probably toxic to any candidate that might endorse it... There you have it, six major proposals that have broad agreement, at least among economists.
Income and payroll taxes have the feature that you always have the money when it's time to pay the tax. That also means they're disinflationary. Whereas property taxes can be inflationary because they may require you to sell assets.