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A VAT disproportionately hits the poor. “Just because someone owns a 50 million dollar piece of property doesn’t mean they have 1 million dollars a year to be able to pay in taxes.” That’s exactly what it means. If they don’t have it liquid they can sell a tiny portion of their assets and Clark Griswold Rant Where’s The Tylenol Christmas Vacation Movie Line T-shirt, cash in some stock whatever. It’s the same way property taxes work.

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Alex Y Chen a VAT would be better than a wealth tax that would create problems with how to determine the value of someones assets. There would have to be an appeals process and Clark Griswold Rant Where’s The Tylenol Christmas Vacation Movie Line T-shirt. Just because someone owns a 50 million dollar piece of property doesn’t mean they have 1 million dollars a year to be able to pay in taxes.