Post #2019 by Steve203 on the Macroeconomic Trends and Risks board

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So basically the progressive income tax is being replaced with a regressive VAT masquerading as a series of tariffs.

Turning back the clock, to 1912, when there were high tariffs, and no income tax. iirc, enacting the income tax was part of a package, linked with reductions in tariffs, as the tariffs were seen as unfairly born by lower income people.

Steve

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