[cstoner]

I think you drastically over-estimate what percentage of income the rich spend on luxury goods. People don't stay rich by buying things.

I consider myself pretty high income. If I was just taxed on consumption, I would bet I'd pay probably half as much tax as I do now.

[aj7]

Yep. Luxury goods are at least half aspirational. Until the shortages, always super buys on BMW’s with 15k in the Miami-Ft. Lauderdale area.