Replacing income taxes and payroll taxes to a consumption tax does have the benefit of clawing back payments made to the gibmedats and dindunuffins.
People are resistant to change so it will be a hard slog, but I am not opposed as long as income/payroll taxes are well and truly ended.
bump and YES
How would VAT tax “claw back payments made to the gibmedats and dindunuffins. I am under the impression that they don’t get Social Security because they don’t pay in.
Among my concerns with VAT tax:
1. Like article says, it decouples payments made by workers from their SS payouts.
2. VAT tax is one of the things that ruined European Economy
Replacing income taxes and payroll taxes to a consumption tax does have the benefit of clawing back payments made to the gibmedats and dindunuffins.
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Don’t kid yourself, some form of the Earned Income Tax Credit will be around forever, no matter who or what party is in power.