Destination-Based Cash Flow Tax (DBCFT) has some nice properties

This piece is really long and unnecessarily convoluted, so I didn't even fully understand it, but I got enough that it seems interesting so I'm saving it

Core principle: tax consumption, not investment (and tax investment returns once they become consumption)

Also tax consumption equally across time

Takes the form of a few taxes

• CAPEX is tax exempt immediately, not amortized over 5 years
• Import tax and export subsidy to offset
  • Purportedly makes manufacturers indifferent about where each piece of the value chain happens, removing a current weird offshoring pressure
  • Also equivalent to VAT with wage exemption? Which is cool
  • But I'm pretty unconvinced by their arguments about this tariff being ok. The exchange rate effects are real but definitely don't offset what they're proposing
• Something about removing tax on interest/debt
• Something about removing cap gains except for extranormal profits or something? I wasn't clear on how how this came out to be cleaner than the current system, but that's the claim