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VAT is like a sales-tax but along the supply chain (with credits) - so it's like a complicated sales-tax. If you want to use that for argument, you should incl
by roflyear 2y ago
VAT is like a sales-tax but along the supply chain (with credits) - so it's like a complicated sales-tax.
If you want to use that for argument, you should include US sales taxes in the calculation too. Which could be fair, I guess.
- carlosjobim 2y agoEuropean VAT is significantly higher than any US sales tax, reaching as high as 25% or more. Also, foreign manufacturers do not get any VAT credits. Also, every person in the US can import goods to a value of $800 per day without having to pay any duties. In Europe you have much less generous rules, and sometimes the limit is €0.
- roflyear 2y agoAre you for these recent tariffs?
- carlosjobim 2y agoI'm not American so I think they can do whatever they want. And as long as taxes on labour exist, I don't think anybody can complain about other types of taxes. Any negative economic impact that tariffs or any other taxes have are doubly worse from taxes on labour.
- roflyear 2y agoAmerica is a massive consumer, so it will likely impact other countries, too. I've been seeing your perspective a lot lately online - that this will somehow cancel income tax. Where is that coming from? I haven't heard a single thing about that from the administration. Where is the basis?