According to a statement published on 12 December 2014, U.S. Senator Ben Cardin has introduced a proposal in the Senate for a new consumption tax. The Progressive Consumption Tax Act (PCTA), introduces a consumption tax on the purchase of goods and services at a rate of 10%, while decreasing the rates of individual and corporate income tax. The PCTA includes so called family allowances, which are individual income tax exemptions of $100,000 for joint filers, $50,000 for single filers, and $75,000 for head of household filers.  The family allowances are indexed for inflation. In addition, the top individual income tax rate...