alt Hacker NewsIt is because personal income tax should have never existed. Nor should have taxes on primary residence. These are the most regressive taxes possible, it is basically serfdom.
It is because personal income tax should have never existed. Nor should have taxes on primary residence. These are the most regressive taxes possible, it is basically serfdom.
Can you explain this? I think consumption taxes are the most regressive taxes possible because they are "flat" and thus affect lower-income people harder.
Marginal income taxes are regressive now in the sense that folks with more wealth have far more resources to avoid paying them, but otherwise the reasoning seems less regressive than a consumption tax (e.g. VAT)