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 ...
It’s Clinton’s BTU tax with another name.
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“developed nations “
The phrase of “progressives”, as in, “Communism has never been tried they way we want to try it so it is new and therefore progressive, and any nation following our ignorantly childish advice is therefore a developing nation.”
Exactly so.
A VAT is a stealth means of extracting money form countries like the USA and giving it to the UN for redistribution.
The Federal government doesn’t need or deserve a dime.
These SOBs in the Federal government should all be in prison or hanging from the gallows, after they receive their due process.
Agreed. And it only adds to the regulatory burden if they can modify behavior through both VAT and income tax deductions/loopholes.
Most other developed nations are getting flooded with Muslim invaders right now too!
Good. It can be one option to talk about AFTER we repeal the 16th Amendment and close the IRS.
NO NO NO
VAT and its requirement to track all invoices and report on “value added” of each is a bookkeeping nightmare and a wedge for socialist-nanny state involvement in any business. It will KILL small business.
I’ve worked in countries where we had to keep VAT records. It sucked. They are the typical statist, socialist countries you would imagine - Netherlands, France, China.
VATs are a wonderful way to stifle industry and the people in a nation and to confiscate their assets for the benefit of the Ruling Bureaucracy. Any candidate that thinks a VAT is useful is a socialist and should not receive the votes of any American. It is as much a killer as is Amnesty.
Oh yeah - we gotta be like them!
The VAT is a tax that pretty much has to be collected at every stage because the tax rate is very high.
We’ve got more than enough taxation already to do what government needs to do.
The per person share of the national debt is about $60,000/person. I don’t have $60,000 and at most two or three of the people on my street do. The money to pay the national debt off simply has to come from a high income tax on high-income people. The Wall Street folks who backed our turncoats and Obama in the debt limit fights need to pay for their folly.
If and only if it replaced the progressive income tax, then Hell yes, it is. It is the only way to get the bottom 47% to pay their “fair share” of the tax burden. But alas, it will simply supplement the progressive tax.
The small businessperson doesn’t need another drain on his/her time.
Sure! If we want to discourage adding value to things.
Actually they do. It's 17%.
No. The VAT will never replace the income tax. It will only add to it.
No Value Added Tax period. We are taxed enough already, and no other taxes are going to be rescinded in favor of this one.
Politicians will simply move them around sleight-of-hand style as beans under thimbles (hand quicker than the eye tricks). Politicians are the original con gamers.
Ideally cut all the nonsensical Leftist departments under the Executive Branch created over the years by the Leftist’s that their supporting bureaucracies have been stuffed with bought, and paid for by our excessive taxations Democrat voting employees.
No matter who is in office, Democrat, or Republican the bureaucracies, the unelected personnel adept at sandbagging any reforms, or legislation for that matter go on.
The Left, the Democrats saw that long ago, and have cornered the market on the game. Washington can only change if we get somebody to lead that cuts out the Democrat advantage, the stacked deck if you will. That would be a good beginning.
Then get rid of the U.N., and then.............
A VAT tax would be a killer for a consumption based economy, which is what we have.
Cruz, a supposed constitutionalist supports an unconstitutional VAT tax ... yep, Cruz = “Establishment” CINO
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