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Re:Modeling a Wealth Tax by oweqruiowe on Tuesday August 18, 2020 @02:30PM (#24202346)
Not sure if others have opinions, but I remember when Andrew Yang was campaigning he talked about going after individual's wealth as the incorrect strategy since their wealth lies in their companies e.g. Amazon... and that a better strategy would be to implement a 20% VAT tax so we're gaining value from every transaction of their businesses that's hard to game and quite effective.

A VAT has the advantage of being simple to administer, and it's capturing the gains made via automation at every step of the chain.

Sounds good if true, and I believe most other countries have figured this out and implemented one. We don't talk about it here though.

Re:Modeling a Wealth Tax by doukdouk on Tuesday August 18, 2020 @05:09PM (#24204375)
VAT pass through can be quite high (see for instance [0]) : VAT does not tax businesses as much as consumers.

[0] https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Est...