• DeckPacker@piefed.social
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    4 hours ago

    I agree in principle, but sales taxes are a bad idea, because they are regressive. That means, because poor people spend a larger proportion if their income, their income is taxed (through sales taxes) at a higher rate than the income of more wealthy people.

    What would actually be a better idea is to have a higher income tax for the higher tax brackets, but also tax wealth and inheritance much more, that would be things like stocks, real estate etc, which the wealthy use to borrow against to avoid taxes (because they don’t pay taxes on the borrowed money).