zimbawawa on 22 June 2012
richardhutnik said:
Do you mean VAT tax, where value added to a product or service is subject to a tax? Or do you mean one on financial transactions. The former is used in Europe and a lot of countries around the world to fund things. The later was proposed, not necessarily to sock the rich, but to curb flash trading and things where they will perform like 1000+ trades a second, causing instability in the market. Also, it was seen as a way to raise money to help offset any future financial meltdowns. |
VAT is a universal tax, I was referring to the latter which targets a specific group. Its a reasonably sound proposal. Have to do a bit of research to see if any traction has been made thus far, but it looks like a case where sheer political will is needed.
