“…Other consumption taxes, like the X-tax and personal expenditure tax, feature graduated rates. Even so, most studies find that consumption taxes would be less progressive than the existing tax system (Feenberg et al, 1997;Kuang et al, 2011;Metcalf, 1997;The President's Advisory Panel on Federal Tax Reform, 2005). In addition, the transition to a consumption tax, some generations could be hurt as existing wealth is taxed (Altig et al, 2001).…”