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0 pointsrobocat4y ago0 comments

Also the npr show has: “4. Eliminate all income and payroll taxes. All of them. For everyone. Instead, impose a consumption tax.”

That implies a GST/VAT/sales tax rate of ~35% in my country, changing from progressive to regressive tax. Enforcing it would require both the abolition of cash, and to somehow police the barter economy.

https://www.interest.co.nz/news/99949/budget-2019-summary-al...

Edit: 35%. Currently GST is 12.5% and 2019 GST budget was $21 billion, PAYE + other source deductions budget was $35 billion.

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xyzzyz4y ago

You can make VAT progressive again, e.g. by issuing flat or income-based refunds. Also, I don't see how enforcing VAT requires abolishion of cash, considering that most of Europe has 20%+ VAT rates on top of large income tax, and cash is, if anything, more popular in most European countries than it is in the US.

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0 pointsrobocat4y ago0 comments

Also the npr show has: “4. Eliminate all income and payroll taxes. All of them. For everyone. Instead, impose a consumption tax.”

https://www.interest.co.nz/news/99949/budget-2019-summary-al...

Edit: 35%. Currently GST is 12.5% and 2019 GST budget was $21 billion, PAYE + other source deductions budget was $35 billion.

0 comments

xyzzyz4y ago

j / k navigate · click thread line to collapse