(09-13-2019 10:50 AM)RiceLad15 Wrote:  

(09-13-2019 10:36 AM)OptimisticOwl Wrote:  A VAT in lieu of the income tax, good idea.

In addition to it, not so much.

I doubt we would ever get to a situation where a VAT would completely replace income taxes. Most countries have both taxes, not just a VAT. If we went with just a VAT, you would either have some crazy amount (like >100%) or you would have to slash spending in a way that would cause some serious problems.

So a 10% VAT raises enough to give every taxpayer in the US $1000/month, eliminating the income tax means we would need 10X that?

I think the average taxpayer does not pay that much in FIT, especially since nearly 50% of them pay zero.

I presume you have some numbers to back this up. let's see them.

edit; maybe we could just start the FIT at a million or so. Still catches most of the tax revenue.