(FB 1552522887 Timestamp)
—“@Curt Doolittle do you not know what a Value-Added Tax is?ï»¿”—
Yes. It is a compound tax (many points of taxation), and a variation on the sales tax (one point of taxation), and like sales taxes is one of the most regressive taxes known to man, particularly because of the distortion it places on the world pricing systems.
Conversely, an income tax is the most progressive because unlike sales or vat taxes it provides the least if not zero distortion of world pricing systems that work against the interests of established (advanced) polities.
The superior alternative to VAT is import-export (trade) tax and policy, which fosters ingroup (home) trade.
There is one reason to employ a VAT: in very low trust countries with very low tax compliance (greece, italy, china), it creates the greatest opportunity for state intervention into private industry thus solving the problem of asymmetric information enabling avoidance.
I don’t make mistakes. It’s my job to help all of you folk for whom doing so makes you useful idiots to those who have destroyed our civilization thru confusing a temporary period of pre and post war wealth with a durable competitive advantage – one which we no longer have. And which folk like you merely assist in perpetuating out of ignorance.
Stalin’s useful idiots still reign.