Quote:
Originally Posted by the truth
VAT is the single biggest hole in the tory lies. Thatcher doubled it and the tories again here raised it 5%.......this vile tax is a tax on the poor, it has no effect on the rich at all and keeps all small businesses small
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I personally have no problem with VAT raises within reason SO LONG AS, hand in hand with that, essentials are exempt. Food, basic clothing, household products etc... They could also introduce things like tax breaks on economical, reasonably priced cars that wouldn't apply to the top end vehicles.
Basically a tax on luxury items. It then scales quite well with income. You have more money for non essentials, you spend more money, you pay more tax.
I'm not even saying this selfishly - I spend a quite obscene amount per year on "techy ****" like TVs, phones, tablets, laptops, computer components and parts, games consoles, games... And I genuinely wouldn't mind that much if an extra 5% was whacked on all of the above, so long as everyday items are left out of the equation.