Posted on 06/09/2011 12:23:35 PM PDT by 92nina
...This is why a VAT is so dangerous. According to Hollings, a VAT with a rate as low as 6% would be enough to eliminate the entire corporate income tax and still leave the government with $506 billion left to spend. Over a decade (which is how tax hikes are scored), this would probably be a net tax hike approaching $6 trillion. This with a very low-rate tax system. The government would do with this extra tax money what they do with all extra tax money--spend it. A VAT is a horrible idea for America, and precisely for the reasons Hollings claims. Politicians won't be content to simply replace other taxes with a VAT. The tax rates involved are so low, and the VAT is so opaque, that the VAT will result in a massive new tax hike in no time at all. Hollings is simply showing the endgame early here...
Read more: http://www.atr.org/fritz-hollings-beltway-tax-hikers-vat-a6227#ixzz1Oo7HmGWH
(Excerpt) Read more at atr.org ...
Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at at Digg and at Reddit and in Delicious and Stumbleupon
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