"When it repeals FSC, it should also call on the European Union and all other countries to join the US in correcting the mistaken distinction between direct and indirect taxes. Congress should simultaneously urge US trading partners to cease exempting their exports from VAT and cease imposing those taxes on imports. If they do not amend their tax practices within a decent period, the US tax code should at least be amended to exclude export income from US corporate income tax and allow American-made goods and services a fair opportunity to compete in world markets."
Isn't this where the SQLs chime in to say that removing taxes or making them border adjustable won't do any good because currency adjustments would quickly offset any such changes?
Oh, I forgot, that only applies to the FairTax.
Yup - they've been terribly quietly lately, haven't they? Perhaps they realize they've lost.
Precisely.....
As Dan Burton said to me, paraphrasing: "If you believe that currency adjustments are going to wipe out this difference, then you've got to believe that price theory is meaningless, and that the trade tail will wag the dog of all dollar denominated assets in the world."
I hope I did his words justice.