Thu Apr 22, 2010 7:07 am by porky
HOLD ON A SECOND...
let me get this right...
YOU AMERICANS DONT HAVE VAT??
OMG?
really?
your soo lucky!!!
my whole life iv been paying vat , some things are zero rated here , some are exempt and some are upto 50% vatable!!!
its not that bad , if your really clever you can get out of it legally , its just a bit of a mission:)
(hope I understand the article correctly!)
But TAX is "fair" because it works on the more you earn the more you pay , soo for example if you earn a billion dollars a year , you will pay more in TAX compared to someone who earns 10,000USD a year ...because you technically have more money and you can "afford it"
VAT however is not a "fair" tax , because if a billion air buys something or a Begger on the side of the street both of them will have to pay the SAME amount soo in proportion VAT is not proportionate to anything its just a slapped on percentage of the cost!
with a normal tax the rich people pay for 90% of the countries tax , wile VAT everyone pays the same and it can land up that the poor people pay more vat than rich people...
soo in essence all vat does is rob people of their cash without any regard to how much money they actually have!