The exchange at the debate where Yang said Warren’s wealth tax was unenforceable and that a VAT tax is better left me a little puzzled. I know VAT taxes are regressive so I went looking for info on what he’s talking about in regards to big companies paying the tax.
What I found was just a lot of him framing the issue of big corps not paying taxes with a solution that leaves big corps off the hook. Why?
He keeps saying the same things and it’s not an accident:
From his book: A VAT “makes it much harder for large companies, which are experts at reducing their taxes, to benefit from the American infrastructure and citizenry without paying into it,” Yang writes.
A VAT tax is not a tax on big companies, it’s a tax on consumers. My sense is people are just letting him do his thing because he’s low in the polls but my feeling is he’s lying to the Yang Gang and it bothers me.
At some point people need to point out that VAT taxes aren’t taxes on Amazon and big corps. The MATH is wrong, Mr. Yang.