That sounds a bit like "VAT can't be too bad because we can just not apply it", which I don't find convincing.
I agree that it's an easy tax to collect, and I think that's very important.
I fundamentally disagree with the grandparent that holds that we should tax flow rather than holding. That's a handbrake on activity. But I suspect we won't reach agreement as it's a question of personal values. If you think that billionaires are great and we need more of them, then I can see how you'd be in favour of vat.
