I spent a great deal of time researching consumption taxes and conferring with fellow substackers, I am very excited about what is a rather dry topic. But it's important to get the tax revenue system right.
My personal exploration is: could we get rid of taxes all together? It's maybe a juicy idea but I'll share more as I work it through haha.
Probably not entirely...but we can curtail them. For example, instead of relying so much on taxes, we can rely more on fees for services. Allocations are another pathway. I really like the idea of the government setting aside a percentage of your income to encourage you to save for retirement. It's still your money, there is no taxes on it, but the govt is there to "nudge" you in the right direction by automatically setting 5 percent aside every year.