Let\’s have only one tax. What a great idea!
So if all taxes, including VAT, form part of the price of the stuff we buy, why do we bother to charge and collect them separately? What would happen if we were to lump everything together, phase out all taxes and just charge higher VAT? Well, several things.
Ah, no, not a great idea. While consumption taxes are indeed \”better\” than income or capital taxes, the very best tax of all is on the unimproved value of land. An LVT.