Andrew Yang Wants to Bring Value Added Tax to America – Says Amazon needs to pay their fair share? Huh? – May 11, 2019,
How many people are willing to make sacrifices necessary to be an entrepreneur? Sure saying you’d like to own your own business sounds nice, but are you genuinely ready to make the sacrifices necessary to be your own boss? Now, that I’ve established that, let me ask you the reader a question, if Amazon doesn’t exist, do its current employees pay income taxes? I’ll wait!
Do you know why Amazon and other large companies get tax breaks? Because they contribute the most to taxes! Prior to the Unions destroying the city of Detroit, the Michigan government was getting revenue large enough for their Grandchildren’s, children to retire on, what happened? A mindset that GM and other auto manufacturers should pay their fair share happened. This nonsense that GM and other U.S Auto manufacturing companies were taking advantage of their workforce happened and soon the Unions and the Politicians locked arms in solidarity and from then on the destruction of the U.S auto manufacturing began.
A concept began in people’s minds that U.S auto manufacturers had an unlimited supply of capital and no matter how much they paid in taxes, they could pay more, which is what happened, but in the meantime U.S Manufacturers had to take more risks, which obviously led to dwindling quality and less investment in the future and now, we’re in a period where GM’s main customers are in China. There’s this myth that Europe is somehow more advanced than the U.S because of their progressive taxation systems. Firstly, people forget why the European Union or the European currency was created to begin with.
Almost every single European currency experienced hyper-inflation primarily because the public sectors in Western Union are huge. People keep wondering, why does Europe keep allowing an influx of immigrants? It’s because their Public sectors are unsustainable, why, because their consumption based taxation system is causing them to go bankrupt. a VAT tax so people understand is a Value-added tax that basically makes things more expensive.
The VAT tax essentially grows and grows based on whichever politician is in office and it makes operating a business more harder because you have to remember that a Value Added Tax is paid by consumers, however, the concept behind it is that businesses competing won’t pass costs onto consumers in fear that they’ll lose those customers, but again this is why you see a lot of business mergers and acquisitions, because as consumers have fewer options prices can PROGRESSIVELY go up a few cents on everything so people won’t notice the changes. This is basically why you’re seeing more and more problems arising in Europe that aren’t being talked about much really. Below is the definition of the VAT tax.
Value-added taxation is based on a taxpayer’s consumption rather than their income. In contrast to a progressive income tax, which levies greater taxes on higher-level earners, VAT applies equally to every purchase. – Investopedia.com
Debt clocks of the EU Member States – comparison – debtclocks.eu
If you look at the Euro debt clock you can see that Greece, Italy, France, Belgium, Cyprus, Portugal, and Spain all have some serious challenges ahead because their Public Sectors are too big. Making matters worse in that situation is the VAT Tax because you see a VAT tax works if money is flowing, but the problem arises when there’s an economic downturn. Even Yang points out that the VAT taxes have to spend wisely by the public sector, but you see VAT taxes aren’t actually given to the poor people, VAT taxes are often used to pay for entitled, sometimes unionized Public Sector employees.
Now, as many people know the U.S Pension system is broken and a VA tax would be used as a stimulus to pay for public sector pensions, which obviously would mean that the poor wouldn’t get anything, this of course is one of the reasons consumption taxes are viewed as regressive, because they prevent workers from being employed and they also make essential goods more expensive to purchase. I get it, Andrew Yang is a fresh face, but he’s spewing the same ole socialist nonsense. Be warned his policies are actually protecting the wealth of the rich and will actually make the poor even poorer.
Interesting times ahead
