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I was under the impression that VAT taxes are considered to impact mostly the poor. While in absolute terms the rich are impacted most, in percentage terms VAT
by Rnonymous 1y ago
I was under the impression that VAT taxes are considered to impact mostly the poor. While in absolute terms the rich are impacted most, in percentage terms VAT is considered a much smaller portion of expenses for the rich than the poor. I quote:
"VAT is a regressive tax, putting more burden to the poor than to the rich. Indeed, VAT applies the same rate to everyone regardless of their level of wealth – but the richer you are, the lower the proportion of your revenue goes to consumption."
- hdgvhicv 1y agoIn the U.K. most living expenses are don’t get charged vat, or get charged at a low rate - food, rent, public transport are vat free, electric, gas are low rated.