[MayorMonty]

In Yang's case, the 10% VAT is accompanied by a $1000/month Universal Basic Income.

[erfderd]

That should eliminate all the income from the VAT and then some, so the firefighters are still dropping your calls.

$ 1000/adultmonth = $ 12 000 / adultyear. -> requires $120 000 of disposable income spent per adult. Very few people spend $120 000 of VATable (A family making $300 000, a good income, doesn't spend anywhere near $120 000)

[jasonlotito]

This assume everything is taxed under VAT. As Yang has discussed, necessities don't need to be taxed. Luxury items can have a higher tax.