06-04-2015, 07:55 AM
The problem with a VAT system is the same with any transaction based taxes, they are regressive in nature. People in the middle and upper-lower classes end up paying a higher percentage of their income in taxes than upper classes.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
