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Don't they tax luxury items at a higher rate? The appeal of a VAT is that you can incent economic expansion in one are over another, ie... Better baby food over
by zardo 11y ago
Don't they tax luxury items at a higher rate? The appeal of a VAT is that you can incent economic expansion in one are over another, ie... Better baby food over swankier yachts.
- alextgordon 11y agoRich people don't spend all their money on consumption like poor people have to do. Their money goes into equities, houses, investments that appreciate over time.