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We need to return to a wealth-oriented tax. Neither income tax nor VAT are taxes on wealth. But even as someone without a lot to worry about, I can't think of
by debacle 11y ago
We need to return to a wealth-oriented tax. Neither income tax nor VAT are taxes on wealth.
But even as someone without a lot to worry about, I can't think of a fair way to tax wealth outside of land taxes, which would greatly disrupt the economy.
- manyoso 11y agoI would take the cost/benefit of a combination UBI and VAT over a wealth/income tax with current social safety net any day and twice on Sunday.
- debacle 11y agoThe problem with VAT is that it's a tax on consumption, not a tax on the accumulation of wealth. It's incongruous with the goals of UBI. A wealth tax and an income tax are two different things.
- manyoso 11y agoYes, I understand that but a VAT need not be out of step with the goals of a UBI if the UBI is protected from the regression of a VAT by scaling it with the cost of living.
- tomkinstinch 11y agoThe estate tax is one mechanism we have now to tax wealth.