Problem solved
Replace Income Tax With VAT
| by Anonymous | reply 5 | February 18, 2020 9:12 PM |
| by Anonymous | reply 1 | February 18, 2020 5:30 PM |
Andrew Yang wanted to fund the UBI with a VAT. Not sure a VAT would bring in enough money to cancel the income tax though.
| by Anonymous | reply 2 | February 18, 2020 5:54 PM |
If anything, it's going to be an addition to income tax.
| by Anonymous | reply 3 | February 18, 2020 8:09 PM |
People in America would absolutely freak out if we adopted a VAT of something comparable to European countries, say 17% to 22%. They would fuck’n lose their minds.
| by Anonymous | reply 4 | February 18, 2020 9:10 PM |
WRONG!
people at lower threshold's of income pay more as a percentage of their total than people who make more. yet most people can not reduce consumption below what is necessary to live in the society they occupy. and most people who make more do not increase their consumption proportionally--once they bought the house in the better neighborhood with the better car, they don't usually keep buying houses and cars. this is similar to sales taxes, which are also regressive.
people who like simple solutions often don't think through how radically different these things effect people at varying levels of pay scale. it takes about $80,000 annually to have a basic, comfortable lifestyle. any more than that is gravy, any less is scarcity in something.
| by Anonymous | reply 5 | February 18, 2020 9:12 PM |