Comments by "" (@TheHuxleyAgnostic) on "Bernie's Wealth Tax Causing Existential Dread At Fox" video.

Yang's plan to not actually tax giant corporations, and making them and the super rich even richer? Why?
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@TheGUDL716 He's not saying he's going to close existing loopholes. He's dishonestly claiming the VAT doesn't have loopholes and will force them to "pay their fair share". The loophole to avoid actually paying any tax is built right in to a VAT system, because they get paid back for VAT input. His projected revenue from the VAT was based on the entire economy, not simply yachts and very high end items. He has since said he'd exempt staples, but that's just basic groceries, some household items, and possibly kids clothes. That doesn't include the electric bill, phone bill, internet bill, cable bill, toys, games, non-staple snacks and pop, and all kinds of things that will still affect poor people's lives. Some people are already getting $1000+ in assistance Yang doesn't have stack with UBI. The UBI won't benefit them at all but they'll still have to pay VAT on some items. The upper middle class and lower end rich, whose incomes won't jump with massive consumer spending and stocks going up, like doctors and lawyers, will pay in more than they get out. Someone like Bezos is going to make billions more than he pays in with Yang's plan.
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Yang's VAT/UBI scheme will only make giant corporations and the super rich even richer. Hoarded wealth also isn't affected by a VAT.
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@baconbriefs Yes, there is a problem with it. Hoarded wealth doesn't go back into the economy, and there isn't an infinite amount of pie. Apple is sitting on $225 billion. Bezos is sitting on tens of billions. Who said it was a felony Mr Strawman? The compelling reason would be long term sustainability. History has shown that hoarding wealth at the top tends to end badly.
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@baconbriefs You think not what? Last time there was this level of inequality, it ended with labour riots and a great depression. Times before ended with revolutions and nobility being decapitated and such. It doesn't tend to end well. Sure, data is a commodity, but it's giant corporations, and their owners, who are selling it. Google/Alphabet is hoarding over $100b. A VAT on data wouldn't change that. It wouldn't tax Google. It would tax whoever is buying from Google, and whoever that is would then count that as operating cost input VAT, and get paid back.
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@quatreraberbawinner2628 He's either ignorant or dishonest. A VAT won't make corporations "pay their fair share".
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@quatreraberbawinner2628 How would a wealth tax tax you and make them richer? A VAT would tax consumers and make them richer.
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@TheGUDL716 A VAT won't actually tax giant corporations. If they, and their super rich owners, get more out of the VAT/UBI scheme than they put in, then someone else is putting in more than they get out. It's impossible to redistribute money and all get more out of it than they put in.
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