justbobf
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Apple CEO Tim Cook calls US tax code outdated and 'awful for America'
>>> charge a VAT on all goods and services sold in the US
The trouble with a VAT tax is that it is a flat tax: everyone pays the same percentage. It is only fair that the rich, and rich corporations—those better abled to pay—should pay a higher percentage than the poor or less well-off.
In England, the VAT is 20%, and everyone just accepts it. I would prefer to tax the wealthy 78%, as we once did. That makes it a dis-incentive for companies to pay multi-million dollar bonuses. That makes for a fairer, more equal society overall.
Don't like that? We are fast approaching the untenable conditions that brought on the French Revolution. Be careful in granting unlimited wealth and power to just a few.
