A Quote by Andrew Yang
A universal basic income funded by a value-added tax, which is a tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale, would spread the benefits of automation to a much wider group of people.
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The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade. So it makes the job of raising revenue easier. The revenues from the VAT can then be used to lower taxes on income and saving and investment. The Value-Added tax doesn't penalize work or saving; it's a tax on buying stuff.
It turns out a VAT - a value-added tax - is a very easy tax to collect and a very hard tax to evade. It's a really good idea. It was invented about 60 years ago in France, of course. Because they're so good at taxing. They had a business tax that was easy to evade, and the head of the French IRS invented this value-added tax, which is very hard to evade.
There are big winners in Paul Ryan's 'Roadmap,' and you can guess who they are. He would cut taxes for the wealthy, completely eliminate the corporate income tax, and create a value added tax.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade.
Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates. The corporate tax is not a rich-man's tax. Corporations don't even pay it. They just pass the tax on in terms of lower wages and benefits, higher consumer prices, and less stockholder value.
Most European countries fund their low corporate taxes with some form of a value-added tax, on consumption rather than income.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
In a marketplace where it's so easy to produce products, where your competitors can essentially match you on the product itself, you need to have something else. You need to have an added value, and that added value is the identity, the idea behind your brand.
Instead of a universal basic income, we could have a basic income guarantee. Or, as economists prefer to call it, a negative income tax.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
What you do by having an income tax rate reduction across the board, you really provide great incentives for people to work, produce, and increase output. So I would support a carbon tax in replacement for a progressive income tax.
When liberals advocate a value-added tax, conservatives should respond: Taxing consumption has merits, so we will consider it - after the 16th Amendment is repealed.
From a Canadian partisan perspective, the more we can upgrade bitumen in Canada, the more we can create jobs in value added, in tax revenues for all Canadians.
The requisitions of the income tax have added greatly to the attractions of mercenary crime.
I'm still one who says that we can get rid of the Internal Revenue Service if we would pass the fair tax, which is a tax on consumption rather than a tax on people's income, and move power back where the founders believed it should have been all along.
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