by John Galt » Mon Aug 17, 2015 11:13 am
VAT is a money making machine, and for that reason i am troubled supporting it (we should starve the beast) however, if e could phase out income taxes for all money under $100,000 while having a resaonable VAT (I've read about 12.5% would cover this) it would address issues of non-reporting, except for black market purchases. remove the drug war and that's most of the black market aside from like, stolen art, which is going to exist with or without VAT. and somewhere along the line that theif is going to buy a cheeseburger from mcdonalds and be hit with VAT anyway, whereas with income taxes that income is never reported
for those making over 100K, rates of today would be alright (remember, they also are paying the VAT), and capital gains should apply the same as any income
i think a lot of the problem with the tax system, regardles sif income tax stays (which it will) or a vat implemented (which it won't be) is that it's way too complex. winchester shouldn't be employed. yeah, maybe some person making a million or more needs a damn accountant to figure everything out for tax purposes, but no one under than should. it should be simple forms to understand
Americans learn only from catastrophe and not from experience. -- Theodore Roosevelt
My life has become a single, ongoing revelation that I haven’t been cynical enough.
- These users thanked the author John Galt for the post (total 2):
- eynon81 • Winchester