Comments by "looseycanon" (@looseycanon) on "Why are European Wages So Low?" video.

Not really, Europe is already mostly services. There are holdouts like Czechia or Germany, which still have heavily industrial economy, but those are exceptions
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Consumption taxes are actually a good thing. You see, only what you consume gets taxed, and the rest, things that you save or invest into some funds, bonds or stocks are not, but the money returns into economy anyway. And if you need to throttle your taxation for one reason or another, you can simply cut on spending to a point. This doesn't happen with income taxes, so I'd rather see them go and double the VAT if need be.
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@TopHatLucario everything has a price
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Assuming the employers are not behaving like a cartel...
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You might want to look at it through income brackets. Remember, Europe and the US are NOT at parity on prices! Recalculate median wages into goods and services attainable in each market, before you'll make a statement like this.
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@ronald3836 Except you can export production, that doesn't get realized in the local market. The reason consumption taxes are better is, that you are in control of your taxation, so if you chose to save, for instance, because you're expecting a large unavoidable expense, you can actually use the financial market and use compound interest to help you earn the money you need.
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