Considering Europe has a VAT of over 20% (27% in Hungary, 25% in Sweden), I'm th... | Hacker News

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		refurb on March 31, 2023 \| parent \| context \| favorite \| on: Lobbyists begin chipping away at Biden’s $80B IRS ... Considering Europe has a VAT of over 20% (27% in Hungary, 25% in Sweden), I'm thinking the consequences are more manageable than you think.

stoolpigeon on March 31, 2023 [–]

Hungary has a VAT of 27% and a flat income tax of 15%. VAT doesn't replace income tax, it complements it. Then there are vehicle taxes, property taxes, and so on.

refurb on March 31, 2023 | [–]

Sure, but is there a reasonable why you couldn't replace a flat 15% income tax with a higher VAT (consumption) tax?

I don't see why not.

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