News for hackers. Stuff that matters.
Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by lukemichals on Thursday May 21, 2020 @03:12PM (#23263486)
> taxes on my earnings

Yangs proposal was a VAT, which wouldn't be a tax on your earnings. Am I off here?

Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by eanzenberg on Thursday May 21, 2020 @03:15PM (#23263546)
So it's regressive? Even better..
Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by lukemichals on Thursday May 21, 2020 @03:28PM (#23263753)
Direct from yangs site (https://www.yang2020.com/policies/value-added-tax/)

> 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.

That's the beauty of a VAT. It can be tuned to reach the desired result.

Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by gnicholas on Thursday May 21, 2020 @04:10PM (#23264384)
> That's the beauty of a VAT. It can be tuned to reach the desired result.

But who will do the tuning? My guess, as a former corporate tax lawyer, is that it would be done by industry lobbyists, seeking preferential treatment for their clients' products.

Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by chillacy on Thursday May 21, 2020 @06:54PM (#23266535)
Yea that's the problem with tuning these things, same with tarrifs, just leads to companies having a rational reason to spend money on lobbyists. IMO the VAT would be much simpler as a flat tax than trying to tune it, but it's not as popular with people who then complain when the price of goods go up (despite the fact that you'd have to be spending something like $120k a year in order to offset the losses of a 10% VAT with 100% pass-through (in Europe it's only 50%) with a $12k/year UBI)
Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by lukemichals on Saturday May 23, 2020 @05:34PM (#23286699)
This sounds like more of a criticism against our representative democracy than it does against UBI or a VAT.
Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by eanzenberg on Thursday May 21, 2020 @05:52PM (#23265884)
Well, duh. How else do communists exert control and power?