I believe that he is and I agree that I would love to see some hard figures on this issue. All of these compliance costs act as a hidden tax burden on every good and service that we use and needs to be eliminated if we ever hope to regain our competitiveness in the global market.
I believe that he is and I agree that I would love to see some hard figures on this issue.
See replies #10 & #21 for some details.
All of these compliance costs act as a hidden tax burden on every good and service that we use and needs to be eliminated if we ever hope to regain our competitiveness in the global market.
Estimates indicate a reduction in producer costs of approximately 22%. That coupled with the fact that all import goods will be fully taxed instead of coming in with little taxation today would make a significant change in global competitiveness of our industries.
Rep. Bill Archer, Chairman, House Ways and Means Committee 106th Congress:
- "A recent survey was done, in Europe and Japan, of the major corporations and I was astounded at the results. They were asked, 'If the US abolished its income tax and went to a sales tax, would that have any impact on your decisions?' Eighty percent of the corporations said they would build their factories in the United States of America. Twenty percent said they would move their international headquarters to the United States of America."