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Is there any better way to fund the government other than them inserting themselves in-between every transaction that occurs? Land value tax is there...anythin
by oh_sigh 6y ago
Is there any better way to fund the government other than them inserting themselves in-between every transaction that occurs?
Land value tax is there...anything else? It seems like such a weird concept that if I have $X and my friend has a bike, I can buy the bike from him, and then he can buy the bike from me, etc until we owe the government more than the bike is worth because we swapped money<->bike too many times.
- CodesInChaos 6y agoIn Europe (typical) businesses can deduct VAT they paid, and you don't need to pay VAT on private sales. So effectively you have a sales tax which only applies to B2C sales.
- closeparen 6y agoIt’s an interesting question. One nice thing about transactions is they have a market clearing price attached. This keeps valuation grounded in reality. Another “nice” thing is that it keeps the tax burden on the suckers who actually exchange goods and services, and away from the owners of capital. It is pretty sweet for Bill Gates types that tax policy thinks his senior engineers are “the rich” and pretty much ignores him.