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The vat bit is interesting. In Europe, the companies are the one responsible, in the USA, it's the consumers. I think VAT is a bad tax overall, a vestigial app
by orwin 2y ago
The vat bit is interesting. In Europe, the companies are the one responsible, in the USA, it's the consumers.
I think VAT is a bad tax overall, a vestigial appendage from colonialism, and would prefer to ultimately remove it, but I think the US system is overall better. At least more transparent.
- freetonik 2y agoMy biggest conceptual issue with VAT is that it’s a flat tax rate for everyone, while income taxes are progressive in many European countries.
- orwin 2y agoThat actually was the point, in colonial economies, (declared) income taxes hit colons way more than locals for a lot of very good reasons (and one bad, undeclared work that prevented owners to pay social security contribution), and for a lot of very bad reasons, French government/business owners wanted that to stop, hence VAT. What's funny is that the families behind the fast implementation of VAT in colonized Africa are still two of the most powerful and rich French families.