According to news, El Salvador’s President Nayib Bukele announced yesterday that the country plans to build the world’s first “Bitcoin City” to attract foreign investment. Bukele stated that the "Bitcoin City" will use volcanic geothermal energy as energy and will not levy any taxes other than value-added tax. Earlier news, El Salvador issued the world's first Bitcoin sovereign bond, half of which will be converted into Bitcoin, and the other half will be used for the construction of "Bitcoin City". Bukele compares the "Bitcoin City" to the city created by Alexander the Great in the Kingdom of Macedonia. He said that his planned "Bitcoin City" will be circular, with airports, residential areas and commercial areas, and a central square that looks like a Bitcoin symbol from the sky. He also revealed that El Salvador plans to issue the world's first Bitcoin sovereign bonds-"volcano bonds" in the near future. In September of this year, El Salvador officially used Bitcoin as the national legal tender alongside the U.S. dollar.
I know that you need to pay income tax, but I was wondering if DevEx considers you a "Business" in that it pays you for your product, or if it considers you an employee
There’s some things that you really can’t stop people from doing. But if you made, say, meth the luxury of the elite, you could save millions of lives AND fatten the war chest.
Also, it gives drug lords incentive to deal with smaller labs that try to get around the tax. That gives cops less to worry about.
First Reddit post ever haha! Like the title suggests, just looking for some good evidence (theory works too) about VAT and its effects. I’m learning it’s a great efficient way to collect revenue, now I’m wondering how it affects consumer spending.
VAT. A tax commonly found in Social Democracies. I wonder, wouldn’t it be more beneficial to only have a VAT for people earning much more than the average income earned by the rest of the country. From what I have heard, the VAT covers everybody. Shouldn’t Social Democrats support tax cuts for the middle class and raise taxes on he upper class? I need an answer.
I hadn't heard of incremental taxes put onto items of higher value add or higher THC...
"The THC levy may amount to a tax as high as 30 %, depending on costs, THC content and product type. That’s on top of a 13% marijuana sales tax, which is in addition to general state and local sales taxes that run as high as 8.9%."
Being a Geologist, I believe in silver. I’m long (John) silver with around a 35k of investment in mostly physical. I’m with you. I’m with the miners and I understand the blood sweat and tears that goes into mineral extraction. 27$ is reeeeeeal cheap in my book. But unfortunately our ability in the UK to go mainstream as retail investors for physical (this movement) is hindered by 20% VAT added to it. If you Add premiums onto of VAT this isn’t a sound investment (to some) . climbing 20% before we even break even won’t feel good....now this isn’t an issue to someone like me who sees past the short term ups and downs. The only solution then is to buy Pslv, unfortunately a lot of brokers here deny us the pleasure.
Or does anyone know any sound uk based brokers that allow investment in mr sprotts silver emporium?
Can a value-added tax used to fund #UBI make shopping online (e.g., Amazon) feel more like you're shopping locally knowing that part of the #VAT you're paying will now come directly back into your local community via UBI?
For starters, a monthly UBI of $320 per month (or $3840/yr) for all adults 18 years and older (209 million in the US) can be fully funded with a 10% value value-added CONSUMPTION tax (half of what most European countries are charging) on ONLY non-basic goods and services to cover the $0.8 trillion cost (according Andrew Yang's calculations) with no VAT charged on purchases of basic goods (food, clothing, housing, healthcare).
With the average amount spent on non-essentials per year at $697/mo per adult, people will pay an average of $70 in VAT per month to net $250 per month (or $3000/yr) from UBI. This would mean that every town of 100k adults will get a net and direct cash infusion of $300 million each and EVERY year to spur economic growth.
The rich (e.g., the majority shareholders of Amazon, Facebook, Google, Apple stock) are likely to pay more in VAT than the poor to fund UBI because the rich (by personal choice) buy more expensive goods, brands, and services than the average person and buy them in greater quantities. Any rich person can choose to buy the same goods and services purchased by the average person if they don’t want to pay more in VAT than the average person. At the same time, people who are poor and spend all their money on basic goods and services (food, clothing, housing, healthcare) pay $0 in VAT.
I have seen an overwhelming support for Georgism and a Land Value Tax. Despite this, it is not officially considered a policy r/neoliberal supports. Do you think it should be added to the sidebar yes or no?
ELI5: A politician in the UK has just said that he wants to remove the VAT system and replace with a new sales tax. What is the difference between the two and what would be the benefit of scrapping VAT for a sales tax?
I know that you need to pay income tax, but I was wondering if DevEx considers you a "Business" in that it pays you for your product, or if it considers you an employee
