Democratic Primaries

Recursion

(56,582 posts) Tue Mar 5, 2019, 04:59 PM Mar 2019

Andrew Yang at Georgetown on how to pay for the Freedom Dividend

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

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Andrew Yang at Georgetown on how to pay for the Freedom Dividend (Original Post) Recursion Mar 2019 OP

So the dividend will be taken from social welfare programs and a VAT? namahage Mar 2019 #1

The retail sales tax is only a tiny part of the VAT Recursion Mar 2019 #2

Which they will pay out of the goodness of their heart, namahage Mar 2019 #3

That's the same BS used to argue against a corporate tax Recursion Mar 2019 #4

namahage

(1,157 posts)

1. So the dividend will be taken from social welfare programs and a VAT?

Reply to Recursion (Original post)

Tue Mar 5, 2019, 05:16 PM

Mar 2019

Yes, the VAT, though a "regressive" tax (in that, as with other consumption taxes, the burden is shouldered proportionately higher on those whose spending constitutes a higher percentage of income, i.e. the poor) is used in "progressive" European countries. The difference, of course, is that the revenue generated funds social programs.

Not a monthly 1K giveaway to those who do not need it (that they will likely NOT spend).

Do you remember the Bush stimulus checks?

https://blogs.wsj.com/economics/2009/12/16/most-2008-stimulus-checks-were-saved-not-spent/

But I guess "cut welfare and tax the poor to give free money to the 1%" doesn't play well to his target audience...

If I were to vote in a presidential
primary today, I would vote for: Undecided

Recursion

(56,582 posts)

2. The retail sales tax is only a tiny part of the VAT

Reply to namahage (Reply #1)

Tue Mar 5, 2019, 05:26 PM

Mar 2019

You can just as easily design a VAT without that, for that matter, by exempting or rebating retail purchases.

Right now, Facebook might spend ten million dollars on computer services from Amazon, who famously pay $0 in taxes. A 10% VAT means that at the time of that transaction, Amazon would have to pay $1 million in taxes.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden