alt Hacker NewsWouldn’t it be simpler for European countries to simply raise the VAT and redistribute the proceeds to poor people, rather than regulate the interchange fees if the concern is inequality
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dns_snek • today at 8:57 AM
VAT is a regressive consumption tax. Raising VAT, hurting poor people the most, skimming a bit off the top and then "redistributing" it back to them would make no sense.
Do you mean a higher corporate tax paid by companies like VISA and Mastercard?
Either way, the solution is already on the horizon: Digital Euro.
post-it • today at 1:23 AM
Your solution sounds significantly more complicated actually.
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So.. you’d have both higher taxes and higher interchange fees? What’s the appeal of that?