tag:blogger.com,1999:blog-16962681.post9037633401071590195..comments2023-12-28T22:56:36.259+00:00Comments on Owsblog...: Olive oil Oakeshott...Span Owshttp://www.blogger.com/profile/10144861546996033462noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-16962681.post-77139237231029486212009-12-11T18:17:48.297+00:002009-12-11T18:17:48.297+00:00OK, that makes sense...BUT, food being exempt etc ...OK, that makes sense...BUT, food being exempt etc how many plasma TVs, new CD players, new "white goods" etc do the "average poor" buy compared to the "average rich"? From what you say it's the same 'pound for pound' (money wise!) but the amount of pounds spent isn't the same.Span Owshttps://www.blogger.com/profile/10144861546996033462noreply@blogger.comtag:blogger.com,1999:blog-16962681.post-12811250617208397342009-12-11T16:49:06.912+00:002009-12-11T16:49:06.912+00:00"Conversely, everyone pays VAT and would usua..."Conversely, everyone pays VAT and would usually hit those with most money to spend i.e. the rich - although I could be wrong."<br /><br />Well strictly speaking VAT is a regressive tax because it hits everyone regardless of income. You pay the same percentage whatever your income. Somebody earning the minium wage and buying £20 worth of petrol the same amount in VAT as somebody on £150,000 a year.Paulhttps://www.blogger.com/profile/15984687997030721919noreply@blogger.com