I think some are advocating for a value added tax with certain categorical exemptions. My limited understanding is this would make necessity purchases more secure while making discretionary “luxury” purchases more expensive
> which, like it or not, is the engine that drives our economy
no it doesnt. the US consumes a lot, but you are mistaking an accounting identity with something causal. if people decided to consume less, that means they are putting off current consumption for future consumption and saving those resources for investment to allow that to happen. don't worry - they'll consume at some point when they feel it is in their best interest (and if they don't, they basically just gave us a bunch of free labor).
all economies everywhere are driven by production. human desire is pretty much endless - you rarely have to incentive consumption. when people have the resource (ie, they produced), they will naturally consume.
the only way that long term standards of living improve is by increasing productivity (this is something virtually every economist agrees to). that is done by increasing capital stocks, machinery, technology. those are all production oriented activity.
