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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (26431)3/28/2005 9:56:03 AM
From: Tommaso  Read Replies (1) of 116555
 
I have to admit that a sales tax appeals to me because it does give you some control over how much tax you pay.

However, there is no question that a value-added tax is extremely hard on very poor people. At the present moment, France has never been so prosperous in all its history as it is now. But at the present moment, the city of Paris may have more beggars working the subway entrances and steps of churches than it has had in the last fifty years. There is something wrong here. In the United States you can get some sort of little fast-food meal for two dollars. The comparable meal in Paris, at least, costs twice as much. There is also an 11 percent unemployment rate.

But people who make it above the subsistence line in France are extremely well off on the whole. The average quality of life is better than in the U.S. now.
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