> taxes on my earnings
Yangs proposal was a VAT, which wouldn't be a tax on your earnings. Am I off here?
Yangs proposal was a VAT, which wouldn't be a tax on your earnings. Am I off here?
> This VAT would vary based on the good to which it's applied, with staples having a lower rate or being excluded, and luxury goods having a higher rate.
That's the beauty of a VAT. It can be tuned to reach the desired result.
But who will do the tuning? My guess, as a former corporate tax lawyer, is that it would be done by industry lobbyists, seeking preferential treatment for their clients' products.