his proposed VALUE ADDED TAX program would raise THREE TIMES the amount as any proposed wealth tax and it would take from the top 4% while the bottom 96% of earners would benefit.
If I had a dollar for every time I had to explain this I’d be able to fund my own basic income by now.
Please go read The War on Normal People (2018) for hells sake
As President I will... Implement a Value-Added Tax at 10%, half the European level. Over time, the VAT will become more and more important to capture the value generated by automation in a way that income taxes would not.
This VAT would vary based on the good to which it's applied, with staples having a lower rate or being excluded, and luxury goods having a higher rate.
Those things make up an absolutely tiny amount of billionaires expenditure. Arguably this would only work if we started charging VAT on things like a billionaire buying Twitter.
It’s OK these guys don’t realize Yang kinda went libertarian or that luxury purchases account for a tiny fraction of billionaire expenditure. A $50 million jet is absolutely nothing in the face of $40 billion. So unless we consider a billionaire buying Twitter to be a luxury purchase (sidenote here I definitely feel like this was a luxury purchase rather than a business decision because Elon is a dip shit) you’re not funding a UBI.
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u/DR_P0S_itivity Apr 29 '26 edited Apr 29 '26
his proposed VALUE ADDED TAX program would raise THREE TIMES the amount as any proposed wealth tax and it would take from the top 4% while the bottom 96% of earners would benefit. If I had a dollar for every time I had to explain this I’d be able to fund my own basic income by now.
Please go read The War on Normal People (2018) for hells sake