Posted on 02/12/2016 8:45:19 AM PST by Citizen Zed
Most other developed nations already have a VAT -- a system in which taxes are paid by each business in the different stages of production of a good or service, and, ultimately, directly or indirectly, by the consumer.
VAT is considered a consumption tax, since it taxes what people consume, rather than how much they earn or their profits from investment. That's also a reason why some consider it unfair for lower-income households. And critics say it could let government take a bigger slice of the overall economic pie, enabling higher spending.
Its supporters, meanwhile, say VAT is better for the economy than an income tax because it doesn't tax savings or investment. It's also a way to put a serious dent in the federal deficit. Republican supporters are willing to institute a VAT, but only if it replaces other taxes and doesn't increase the overall U.S. tax burden.
So, what's your view? Register your vote and leave us your comments. We may use them in print in a coming special report.
(Excerpt) Read more at blogs.wsj.com ...
> “Is It Time for a VAT in the U.S.?”
No. And just so people know in case the discussion goes there, the FairTax is NOT a VAT.
YES!! YES!! Ted Cruz has a stealth VAT in his tax plan! Go Cruz!
only if the income tax is completely repealed first. Otherwise we would just end up with both.
What good is a poll behind a pay wall?
Behind the WSJ Pay Wall.
Sure we need it. We’re not taxed enough. In fact we need a tax on sales tax (that was sarc). But in Washington state there is that, a tax on a tax at the fuel pump.
Instead of dreaming up more ways of extracting money, they should stop spending it.
Never ever confuse tax methods with how much tax is taken.
Anyone who's read up on how a VAT works knows the hideous complexity of setting up such a tax system. Someone should ask Canadians how complex VAT's are at the national and province level.
Could you imagine how many employees the IRS would hire to administer a VAT?
There might not be enough attorneys and accountants in the whole country
Most other developed countries wish they could be like America, too, but they are weighed down under Socialist governments.
America is a model to be emulated, but Libs want to drag her down by making her like "other developed countries".
Other developed countries have nationalized health care.
Other developed countries have strict gun control.
Other developed countries this.
Other developed countries that.
Sick of it!
No No No No No.......in Britain the VAT is up to around an extra 20% on everything. That is one reason the European countries are so much poorer than the USA.
Exactly! Drive a stake through the heart of the IRS, first. I would support either a VAT or a straight sales tax at the point of the retail sale. (”retail” now there’s a weasel word . . . if Dims don’t know the definition of “is” then the term “retail” can become problematic real quick.)
Oldplayer
Geez anything to avoid doing the inevitable and that is to tariff imports. Good gash we’ll try anything first until we get back to the way the founders rightly set up taxation.
Quintuple NO!
Once you have a VAT, what’s to stop them from incrementally increasing it because of need for more funds?
NOTHING!
VAT is the most destructive form of indirect hidden taxation and a leftist dream tax. NO Conservative/Libertarian/sane taxpayer should ever consider a VAT tax.
It is not just a NO, it is a @#$^@^@#$^@%^ NO!
I don’t think China has one.
But of course. Sales taxes are bad because people can see how much government is costing them. Invisible taxes! That’s the ticket!
Only if it means scrapping the income tax. NO WAY for both.
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