[Your Nightmare]

You've heard of the EU right? VAT hasn't exactly been a good thing there....

Says who?

No offense but I thought that no one with half a brain would want a VAT.....

Then you thought wrong. Economically, a credit-invoice VAT is no different than a NRST. And because it loses less revenue to evasion, can be implemented with a lower rate, increasing the economic benefits.

[ancient_geezer]

You've heard of the EU right? VAT hasn't exactly been a good thing there....

Says who?

 

• How a Value Added Tax Would Harm the U.S. Economy

• Australia - Cash economy continues to grow

• Why do Europeans Work so Little?

• Tax distortions, household production
  and black-market work

• THE NATURE OF THE UNDERGROUND ECONOMY.
  SOME EVIDENCE FROM OECD COUNTRIES

• Who Pays The VAT ?

[socialismisinsidious]

see 1073...

I do not believe that adding a tax at every stage of production is a good idea. A tax every single time "value" is added to an item.....yikes.
A VAT would be the least efficient consumption tax and it would create more opportunities to evade. If you are looking to create more bureaucrats, each specializing in a particular level of production taxation, then it would seem that a VAT is the way to go. More layers for the government...just what we don't need IMO.

[CSM]

"Then you thought wrong. Economically, a credit-invoice VAT is no different than a NRST."

Except that one is clearly visible to every citizen and the other is hidden.