Discover and read the best of Twitter Threads about #regressive
Most recents (3)
Should #Truss go for the ‘nuclear' option of a 5% #VAT cut? In favour…
✅ can be done quickly (immediate boost to spending power)
✅ saves *average* household c£1,300 a year
✅ lowers headline #inflation (temporarily)
✅ struggling businesses could use it to help cashflow...
✅ can be done quickly (immediate boost to spending power)
✅ saves *average* household c£1,300 a year
✅ lowers headline #inflation (temporarily)
✅ struggling businesses could use it to help cashflow...
Against...
❌ #VAT is one of the least bad (e.g. non-distortionary) taxes
❌ cutting it would have few supply-side benefits
❌ would be at least mildly #regressive (see my earlier tweet on this 🤓)
❌ a 5% cut would ‘cost’ £38 billion (could be better deployed elsewhere?)...
❌ #VAT is one of the least bad (e.g. non-distortionary) taxes
❌ cutting it would have few supply-side benefits
❌ would be at least mildly #regressive (see my earlier tweet on this 🤓)
❌ a 5% cut would ‘cost’ £38 billion (could be better deployed elsewhere?)...
My verdict: it's right to consider cutting #VAT across the board (not just on #energy). It should only be a 'nuclear' option, as part of a broader package, but the scale of the crisis means everything should be on the table.
#truss #trussonomics
#truss #trussonomics
1/ Frustrated and stuck on the @MBTA? Here’s a thread for your morning commute, and a reminder of why the transit system’s main funding source has fallen far short of expectations:
2/ The @MBTA has relied on the “penny on the sales tax” since 2001. At the time, the state thought sales tax revenue would continue to grow by 3 to 8% per year as it had. In 2007, 3% was still “worst case scenario”.
3/ Actual growth of sales tax has, in fact, averaged 1.5% — half what leaders expected. This is partly because of changes in what people buy. Further, the “penny on the sales tax” portion that the @MBTA gets doesn’t include meals. 
We've just released the final report by @Alston_UNSR, the UN Special Rapporteur on extreme #poverty, on his visit to the #UK. The report is available here: undocs.org/A/HRC/41/39/Ad…. A few key takeaways:
