[dpark]

I don’t know what this means. You’re hand waving “based on consumption”. There is no magic deduction that turns an income tax into a consumption tax.

Also you seem to have reversed your stance and are basing deductions on consumption. So the exact opposite of a consumption-based tax.

[satvikpendem]

Yeah, looks like I reversed it, my bad. But it's an interesting model, not taxing consumption at all but savings instead (not necessarily investment as something like a 401k would still be untaxed).