VAT is better than progressive income taxes because everyone pays it rather than 50% getting a free ride. But it should not be an additional tax. For every $1 more in new taxes, the government spends $2. A new VAT income stream isn't going to be any different.
Machines already do most of the work and wealth creation, and paying off debt. With robots that percentage is going way up. Your kids won't need to lift a finger. Their biggest challenge will be to avoid becoming human pets on food stamps, because pets are easily disposed of when their leaders lose interest in taking care of them.
“Machines already do most of the work and wealth creation, and paying off debt. With robots that percentage is going way up. Your kids won’t need to lift a finger.”
That’s pretty radical. No, there’s still a LOT of real work that has to be done...and it will be my kids doing that.
And you honestly believe the free riders will have to pay? There will always be an escape clause for the free riders, with a V.A.T. they will receive a rebate or refund every year, similar to the E.I.T.C. they get now.
The E.I.T.C. by the way was first proposed by Nixon, signed into law by Ford and increased under every administration since, without exception. The tax takers will never pay, no matter whether it's a VAT or any other tax.