Final answer:
As an elected official aiming to increase revenue, I would prefer a progressive individual income tax due to its fairness and adaptability to pay. Sales taxes and VAT could be regressive, affecting low-income earners significantly, and a flat tax doesn't account for income disparities. The economic climate would also play a role in deciding the tax increase approach.
Step-by-step explanation:
If I were an elected official and recognized the need to increase revenue to support additional services, my preference of tax to use would be based on efficiency, fairness, and the economic state of my constituency. Considering that sales taxes and VAT (Value-Added Tax) are generally considered regressive because they take a larger percentage of income from low-income earners, this might not be the best option if the goal is to maintain fairness. A progressive individual income tax, which taxes higher income levels at higher rates, could potentially be more equitable and tied to the ability to pay.
However, if economy is in a recession or experiencing low growth, raising income taxes might not be advisable as it could further slow economic activity. In such cases, a flat tax might seem attractive due to its simplicity and potentially smaller impact on economic behavior, but it does not account for differences in income levels. Thus, my preference would lean towards a moderate increase in individual income taxes with a progressive structure, while also considering the implementation of targeted fees and charges that correlate with the usage of certain public services or consumption of luxury goods, in order to minimize the tax burden on lower-income individuals.