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by hattmall
8 days ago
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This is essentially "The Fair Tax" proposed many years ago, it's a VAT, but with a pre-bate check that covers the VAT up to a certain percent of income. So if there's a $100K no VAT minimum. The pre-bate is $25k. Anyone spending less than $100k annually pays zero taxes. Pair that with VAT exemptions for second hand goods and business under a certain size and you solve most wealth inequality and welfare issues very quickly. |
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