I hate value-added taxes because it causes more problem with tax compliance, not less.
I want to define a method that can be supported by the voters. Sadly, it will not be “pure” enough to be adored by any one group. The goal is not to make the perfect system, but a much better system. I propose we replace US Federal taxes with this method that will collect the same amount of money. Every corporate transaction, including sales to the public, will be taxed. A steeply progressive scale will collect much larger amounts from larger corporations. But, up to 75% of wages paid in the US to documented residents can be directly subtracted from the tax burden.
The current federal taxes discourage domestic employment. This is crazy. Selling a Harley that carries these taxes is harder in the US and abroad, because its foreign competition avoids those taxes. I want to eliminate jobicidal taxes, create a system that instead encourages employment, plus one additional goal: anti-trust. In addition to raising the tax rate for larger firms, I would add an additional multiplier to those “monolith” firms who dominate their sectors. The USA will be stronger when served by smaller, more agile firms who are not “too big to fail”
We might exclude certain items like food and drugs, and perhaps home owner mortgages. The transition would be challenging, and there will be many devils & details... but, as a concept, what do you think?
Horrid. We don’t want a ‘progressive’ scale, we want (and for Justice’s sake, need) a flat applies-equally-to-everyone tax.
hell no.
That sounds insidious.
The government should taake less money from the private sector, period.
I do not think it is the job of government to decide how big conmpanies are allowed to get.
I hate value-added taxes because it causes more problem with tax compliance, not less.
No VAT tax ever!
A VAT creates a whole new bureaucracy that determines what is the “value” added at your stage of production.
Second, a VAT hides the tax from the consumer, so it can be increased easily while blaming greedy corporations for raising prices.
Third, a VAT discourages manufacturing in the countries that utilize such a scheme.