So you want to tax something that has already been taxed throughout the course of someone's life, just because they want to give it to their kids?
The only tax that is fair to everyone is a sales tax.
So you want to tax something that has already been taxed throughout the course of someone's life, just because they want to give it to their kids?
The only tax that is fair to everyone is a sales tax.
I live in South Africa where we have 15% VAT.
When I was little and playing SimCity 2000 I looked at the tax rates for the city and noticed that the sales tax rate was like 2%, and based on our 14% VAT at the time, it seemed super low to me so I upped it to 12% and was surprised at how unhappy the citizens were.
This gave me the impression that Americans wouldn’t be happy with a significant sales tax, or perhaps this was a city sales tax on an existing state sales tax, which yes, would be outrageous, or maybe Americans get taxed in some other way which makes up for our VAT.
Anyway, I look back and chuckle at my own lack of knowledge at the time.
I would love a VAT tax instead of the never ending stream of taxes we pay on everything else.
Americans are stupid. They see a higher tax on an iPhone they don't need, they will cry about it.
But they pay more at the end of the year on income tax, property tax, car registration, etc., they could care less.
Most Americans don't even look at their pay stub, and are more than happy to overpay their income taxes every paycheck so they get a bigger tax return at the end of the year.
They don't realize that money was theirs to begin with.
They complain about not being able to become wealthy while they give the government an interest free loan, when they could be investing that money and earning on it.
All of the money has already been taxed countless times.