Nov
03

Politics of the VAT

Democrats fear a Value Added Tax because it is very regressive. (That means the poor pay more taxes as a proportion of their income than the rich). Republicans fear a VAT because it can easily raise lots of money — just look at Europe. But, once Republicans realize it is regressive and Democrats realize it will raise lots of money, it may suddenly be hailed as a rare bipartisan solution to our fiscal problems.

Share This Post
Facebook Twitter Email

Speak Your Mind

*