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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Also -- completely unrelated to my question by -- wow.   I cry to think about needing to spend only $3,000 a year on a decent college education.[/quote]

Depending on your situation, you'd end up paying more overall because tax rates are much higher in most EU countries compared to the US. So over your child's lifetime, it costs most to do it the EU way.

I lived in an EU country and VAT (sales tax) on all items was 20%, including food. Rich or poor, no matter -- you all pay 20% on everything you buy.[/quote]

That's a much better way to do taxes. The US should adopt a VAT of 20%.[/quote]

I'm of two minds about it. On the one hand, a national sales tax is very clean. Everyone pays it, and there are no special "deductions" like we have for income tax. On the other hand, it affects the poor more than the rich, since the rich don't spend as high as % of their income on goods and services (they invest), so it's a regressive tax on the poor basically.

I suppose that can be solved with EITC (earned income tax credit), which is basically a handout to the poor.

Most EU countries also have a progressive income tax, and it's fairly high compared to US income tax.[/quote]

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