Democratic Primaries
Related: About this forumprimary today, I would vote for: Joe Biden
namahage
(1,157 posts)Yes, the VAT, though a "regressive" tax (in that, as with other consumption taxes, the burden is shouldered proportionately higher on those whose spending constitutes a higher percentage of income, i.e. the poor) is used in "progressive" European countries. The difference, of course, is that the revenue generated funds social programs.
Not a monthly 1K giveaway to those who do not need it (that they will likely NOT spend).
Do you remember the Bush stimulus checks?
https://blogs.wsj.com/economics/2009/12/16/most-2008-stimulus-checks-were-saved-not-spent/
But I guess "cut welfare and tax the poor to give free money to the 1%" doesn't play well to his target audience...
primary today, I would vote for: Undecided
Recursion
(56,582 posts)You can just as easily design a VAT without that, for that matter, by exempting or rebating retail purchases.
Right now, Facebook might spend ten million dollars on computer services from Amazon, who famously pay $0 in taxes. A 10% VAT means that at the time of that transaction, Amazon would have to pay $1 million in taxes.
primary today, I would vote for: Joe Biden
namahage
(1,157 posts)and not by increasing prices?
primary today, I would vote for: Undecided
Recursion
(56,582 posts)Prices are set by what the market will bear, not input costs
primary today, I would vote for: Joe Biden