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by alexeisadeski3 4409 days ago
The poor spend a larger share of their income on items covered by VATs and excise and import duties than do rich people. Conversely, rich people save and invest a larger portion of their income. Point being that Europeans, who "see more from the taxes they pay," are really just paying themselves.
2 comments
alexeisadeski3 4409 days ago
@Tormeh, yes most US states do, but they're small (zero to nine percent, typically). I said US import duties were low, not nonexistent.
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tormeh 4409 days ago
Don't most states have VAT? And are there really no import duties in the US? Why would the US need free trade deals then?

Well, I'm pretty sure that there's more redistribution in northern Europe than in the US. Sure, there's a lot of "paying yourself" going on, but that's hardly everything. Anyway, my point is that in most industrialized countries the mechanisms by which you pay yourself are much more efficient than in the US.

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dragonwriter 4409 days ago
> Don't most states have VAT?

No, but many have sales taxes (which are not the same thing as a VAT, though they serve a similar purpose; VAT's are collected at each step in the supply chain, sales taxes only on sale to consumers.)

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