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That the VAT taxes consumption, something the rich do proportionally less of, is not a "loophole". It's fundamental to the design of the tax.
by twoodfin 14y ago
That the VAT taxes consumption, something the rich do proportionally less of, is not a "loophole". It's fundamental to the design of the tax.
- loup-vaillant 14y agoGood point. It doesn't explain everything however: The top 2% (or is it 0.2%?) pay less than 10% taxes. Direct income tax alone is supposed to approach 50% for those incomes.