His preferred tax system: a personal expenditures tax. It works like the following:
- Idea: Tax only consumption, but in a progressive way.
- How? Tax people’s income (similar to how it is done today, but regardless of the source of income), deducting what they leave in savings (be it checking accounts, stocks, whatever).
What’s nice about this is that it is income-agnostic (capital gains and wages are taxed the same) and progressive while still incentivizing people to save.
Plus a Georgist land value tax, of course.