(dys)harmonica

From Abstract: This paper compares two options to increase revenues as part of a plan to help avert a fiscal crisis – adopting a new value added tax (VAT) and raising all individual income tax rates, including those applying to capital gains and dividends, by a constant percentage. 

VAT is common in Europe (instead of sales tax), and like payroll tax, it is regressive (the lower and middle classes are taxed at a disproportionally hig hrate).