View Single Post
Old 06-24-2010, 04:21 AM   #54
GeoffC
Chocolate Grasshopper ...
GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.GeoffC ought to be getting tired of karma fortunes by now.
 
GeoffC's Avatar
 
Posts: 27,599
Karma: 20821184
Join Date: Mar 2008
Location: Scotland
Device: Muse HD , Cybook Gen3 , Pocketbook 302 (Black) , Nexus 10: wife has PW
VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling, according to Wikipedia ...

It is a direct tax on consumers, treats everyone "fairly", especially where some products are 0% or a few % rated. Businesses on the other hand are able to claim back the VAT charged during inter business transactions. Makes it a costly exercise to manage, I would think.

I, too, agree that income tax is a fairer way to tax the individual - your money is taxed only once, that way you have more money in your pocket and importantly you chose what to spend it on. Although the income tax rate would have to rise ..... !!!!
GeoffC is offline   Reply With Quote