That the VAT taxes consumption, something the rich do proportionally less of, is... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

twoodfin on Oct 9, 2012 | parent | context | favorite | on: French Entrepreneurs Revolt

That the VAT taxes consumption, something the rich do proportionally less of, is not a "loophole". It's fundamental to the design of the tax.

loup-vaillant on Oct 9, 2012 [–]

Good point.

It doesn't explain everything however: The top 2% (or is it 0.2%?) pay less than 10% taxes. Direct income tax alone is supposed to approach 50% for those incomes.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact