Quote:
Originally Posted by rubecube
You'd certainly have to raise the amount given back on GST rebates quite a bit to match the personal exemption, correct? I'm also not convinced a consumption tax would generate enough revenue, especially in down economic years. Or at least it would have to be much higher than 5%.
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Of course it has to be more than 5%...we already pay that plus income tax. The consumption tax could easily generate enough revenue though, it just needs to be structured effectively. As far as the personal exemption, the tax could obviously not include necessities (like we already do with the GST).