alt Hacker NewsMany problems with the tax code and all of its complications is due to the fact that people are taxed on revenue and businesses are taxed on profit (revenue -costs). It would be good to remove this mismatch. I would prefer eliminating the income tax (land tax anyone?) but you could take business on revenue (a VAT is sort of like this).
Replies
daedrdev • yesterday at 5:19 PM
Revenue has almost no relation to the ability to pay. There are plenty of businesses making 1 or 2% profit, often because they have high pass through, like distributors of all forms, including supermarkets and stores.
qudat • yesterday at 4:37 PM
I’d rather figure out how to stop taxing people and place the burden on companies entirely. Make it progressive like income tax but make it based on revenue not profits.
This will destroy low margin business (ex Supermarkets?), they will be forced to increase prices. There is a million downstream bad consequences