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@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
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@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
@babaq @MostlyHarmless
That's taxing expenditure instead of income. Rich people don't even spend money. They borrow. So they keep accumulating stock. They spend so little of their income compared to low income people spending almost all. That's every rich asshole's dream. -
@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
In America we are taxed when we get our money, when we spend our money, when we save our money (the interest is not tax free), taxed on our land, registration of our vehicles ... The only way to avoid taxes is to become rich, then you become tax exempt.
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@MostlyHarmless and food. And healthcare. And...
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@MostlyHarmless couldn't agree more.
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@MostlyHarmless #alttext4you since this is too good to not boost.
Lisa Simpson presenting a lecture, standing on stage and speaking to her audience. Her slide says, "If businesses only have to pay taxes on profit, not revenue, then I should only have to pay taxes after I've paid all my bills and rent."
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@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
@babaq @MostlyHarmless VAT is regressive.
It is worse for poor people -
@MostlyHarmless #alttext4you since this is too good to not boost.
Lisa Simpson presenting a lecture, standing on stage and speaking to her audience. Her slide says, "If businesses only have to pay taxes on profit, not revenue, then I should only have to pay taxes after I've paid all my bills and rent."
@mason @MostlyHarmless That's Lisa.
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@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
@babaq @MostlyHarmless
Not for the poor. They spend all they earn. -
@mason @MostlyHarmless That's Lisa.
@bugbuster42 @MostlyHarmless Thanks! Fixed.
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R relay@relay.an.exchange shared this topic
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@babaq @MostlyHarmless
That's taxing expenditure instead of income. Rich people don't even spend money. They borrow. So they keep accumulating stock. They spend so little of their income compared to low income people spending almost all. That's every rich asshole's dream.@alper @babaq @MostlyHarmless you still pay VAT on what you pay with loaned money righr? I believe using loans is mostly to get around income tax.
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@MostlyHarmless Or you could strip all the pedophile billionaires of all their money toss them in prison and cancel taxes for everyone else.
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In America we are taxed when we get our money, when we spend our money, when we save our money (the interest is not tax free), taxed on our land, registration of our vehicles ... The only way to avoid taxes is to become rich, then you become tax exempt.
@unusnemo I believe it is the same everywhere
@MostlyHarmless -
@babaq @MostlyHarmless VAT is regressive.
It is worse for poor people@elCelio I think it is the most just tax: you pay for what you consume, when you consume
@MostlyHarmless -
@babaq @MostlyHarmless
Not for the poor. They spend all they earn. -
@MostlyHarmless Or you could strip all the pedophile billionaires of all their money toss them in prison and cancel taxes for everyone else.
@Ulrich_the_elder @MostlyHarmless Not only the pedophile billionaires, but the other billionaires as well. They all own too much wealth, scraped off of the normal people. We want it back.
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@MostlyHarmless at some moment, there was a (rather theoretical) discussion about completely replacing income tax with only VAT… I wonder if it would work IRL
@babaq @MostlyHarmless
Flat tax on wealth only. -
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@MostlyHarmless isn’t this basically what a tax free personal allowance is for? Though I’m not at all sure that the UK’s £12.5k, which feels like it’s been frozen forever, is enough for each person to pay for housing & utilities, but I feel like that’s the concept behind it.
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@guteIT @babaq @MostlyHarmless for people earning below the income tax bracket this would undoubtedly lead to increased rates of vat which means they’d be hit very very hard.
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@alper @babaq @MostlyHarmless you still pay VAT on what you pay with loaned money righr? I believe using loans is mostly to get around income tax.
@birkenator @babaq @MostlyHarmless
That's not the part that matters most. (They borrow to avoid income). That lower income people spend all their income to make it through the month. Rich people spend a fraction of their income. If you can't tax them for the money they make they'll sit on more and more money.
