151–160 of 182 posts
Would it be easier if there was a single EU wide VAT rate?
Yes. But at least its not as bad as the US where each city seems to have its own VAT rate...
Even if you mean sales tax, that's set on a state-by-state basis, and you only have to collect sales tax in a state if you have a physical presence there:
https://www.sba.gov/content/collecting-sales-tax-over-intern...
Would it be easier if there was a single EU wide VAT rate?
More information:
https://www.sba.gov/content/collecting-sales-tax-over-intern...
Earlier quoted context omitted.
Investment return is always a problem. Pension funds don't magically create money!
The EU countries don't need 8+% returns to provide their citizens with comfortable retirements. One major reason is that in the US you need to save for living to an age much greater than the average life expectancy.
In New York State, the pubic employee fund is arguably fully funded, and most employees are eligible to retire at 55 with 2/3 of their salary as a pension. That fund requires a 7% annual return to avoid additional employer contributions.
Earlier quoted context omitted.
How is VAT regressive or hidden? For a start, I'd say that just about every EU citizen is aware of it. Plus, prices in shops have to show VAT-inclusive prices to end customers, unlike some states in the USA where sales taxes can get magically added on to the final bill. Secondly, it's not regressive because the more goods and services you buy, the more you get taxed. If I buy a luxury yacht, I'll end up paying more V…
> For a start, I'd say that just about every EU citizen is aware of it. They know it exists, they don't know how it works or why (unless they run a business). > Plus, prices in shops have to show VAT-inclusive prices to end customers ... which is exactly what I mean by "hiding it". You'll hardly ever see "€ 4.00 + € 1.00 vat" when going through shelves; you'll always see "€ 5.00". You have no idea how that price is c…
What? It's just a percentage. You don't need to be a business to understand that.
...which is exactly what I mean by "hiding it". [...]
That's not hiding it. Companies can (broadly speaking) also show ex-VAT prices, should they choose, they are just obliged to show the inc-VAT ones more prominently. People care about the end cost, I'd guess if you polled people, they'd overwhelmingly choose the inc-VAT display over ex-VAT.
Also, in the UK, your receipt will show the breakdown of tax and may also highlight tax-exempt items, so if you really care for the details, you can see them.
The american approach to sales tax, which seems complicated and "magic" at first, is actually much more transparent.
Again, I'd wager that the actual costs are the ones that consumers want to see, not the pre-tax prices. Do US customers really sum their trolley of goods in their heads and add on the exact tax % to know how much they are spending before they hit the tills? Which is more convenient?
Nope. It's regressive because it's flat rate
Um, I'd suggest that you look up the definition of a 'regressive tax', you appear confused. 'flat rate' or 'proportional tax' is _not_ regressive, again by the very definition!
[yacht ownership discussion snipped]
because in the end it's paid only by fixed-income n00b employees who can't justify a VAT return.
VAT return? End customers have no VAT to claim back. They are people that pay it! Now if you are running a business, and so have business purchases, then obviously you need to be aware of tax regulations. If you are a 'n00b' employee then you pay it.
Earlier quoted context omitted.
Things which aren't true: >In the US you can wake up in a hospital after someone rear-ended you, to find you are bankrupt and going to become homeless, even when you had the best insurance. >unless the stock market returns 8% most people are going to have a rough retirement Your health and car insurance covers exactly what it says it covers, and retirement plans aren't a mystery. In America you take personal responsi…
Taking personal responsibility sounds all very well (leaving discussion of the impossibility of meaningful free will for another occasion), but private health insurance is a special kind of stupid. For example, some people are born with diseases or disabilities that we can say with certainty will cost millions in care over their lifetimes. Those people are obviously uninsurable. So health systems that don't leave peo…
In America as of 2014 you cannot be denied coverage, charged more, or denied treatment based on health status.
There is no longer an "uninsurable" American citizen.
Earlier quoted context omitted.
No country mandates 6 weeks. The highest is Austria with a total of 38 days between paid vacation and holidays. Most of Europe is around 30 days. See http://www.bostonglobe.com/business/2014/08/13/one-few-count... . Scroll about halfway down for a nice infographic.
30 days / 5 weekdays per week = 6 weeks
Earlier quoted context omitted.
The EU countries don't need 8+% returns to provide their citizens with comfortable retirements. One major reason is that in the US you need to save for living to an age much greater than the average life expectancy.
That's only as sustainable as demographic trends and economic success allows. In New York State, the pubic employee fund is arguably fully funded, and most employees are eligible to retire at 55 with 2/3 of their salary as a pension. That fund requires a 7% annual return to avoid additional employer contributions.
It's going to get interesting in the US, as an increasing percentage of private sector retirees are scraping by on an average $1K a month whilst public sector retirees are enjoying cruises and taxes are being raised (or services reduced) to fund them.
Earlier quoted context omitted.
At least in the UK, you'll be required to keep such private data for 10 years, which also means registering as data processors and controllers with the Information Commissioner's Office. See this: https://www.gov.uk/government/publications/revenue-and-custo... Also, try explaining how simple all this is to the self-employed women selling crafts online using PayPal.
If you are selling crafts online, you have to take a purchasers location in order to deliver stuff. If you are doing this through your own shop, then all the decent ecommerce backends have plugins for eu vat stuff and if you are doing it through an existing marketplace the same applies. And I don't think whether they are women really affects this.
Earlier quoted context omitted.
Things which aren't true: >In the US you can wake up in a hospital after someone rear-ended you, to find you are bankrupt and going to become homeless, even when you had the best insurance. >unless the stock market returns 8% most people are going to have a rough retirement Your health and car insurance covers exactly what it says it covers, and retirement plans aren't a mystery. In America you take personal responsi…
Taking personal responsibility sounds all very well (leaving discussion of the impossibility of meaningful free will for another occasion), but private health insurance is a special kind of stupid. For example, some people are born with diseases or disabilities that we can say with certainty will cost millions in care over their lifetimes. Those people are obviously uninsurable. So health systems that don't leave peo…
...if they were born to parents who had insurance they would have been covered.
>So health systems that don't leave people to die must involve an element of the collectivisation of risk.
...insurance is all about collectivisation of risk, is it not? You are paying in, hoping to never collect, and the money you pay in is used to cover those who did need it.
Would it be easier if there was a single EU wide VAT rate?
Just so you aren't confused, there is no VAT in the US, and sales tax is set by states, not cities. More information: https://www.sba.gov/content/collecting-sales-tax-over-intern...
http://dor.wa.gov/Content/GetAFormOrPublication/FormBySubjec...