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Canada has federal and provincial VATs. They are not regressive, because low income people get a tax refund, quarterly. VATs are good.
by alejohausner 6y ago
Canada has federal and provincial VATs. They are not regressive, because low income people get a tax refund, quarterly.
VATs are good.
- donw 6y agoIf we replaced existing taxes with VATs, and did a prebate (e.g., Yang's proposal), that'd be a lot more palatable. Although I'd be curious what this would do to housing prices -- e.g., if you buy a house, is a VAT applied to your purchase price?
- tptacek 6y agoCountries with VATs seem to tend to exempt residential real estate.
- donavanm 6y agoAs an aside there are murmurs here in Australia, particularly NSW, about moving from property stamp duties to annual property or land taxes. Principal residences are currently exempt from the 1.6% annual land tax.