Posted on 06/07/2010 8:08:27 AM PDT by Kaslin
And here I thought rats were good for ammo sales.
That bloated Communist Pig of a Government needs to tax less.
marking for later
It needs to govern less. It costs a lot of money to micromanage the things it shouldn't, and at the same time it shirks its Constitutional duties.
It could also be called the "Added To The Price You Have To Pay Tax", but that's a lot longer and harder to remember. "Son of NAFTA" would be another good name for it.
The tax revenues are lower and the dems think that raising the rates will produce more revenue. That’s how nuts they are. Raising taxes will cause flight/strikes in these conditions because the productive are seeing the scales tipping to reward the looters and moochers. “Wealth” has to be produced before you ‘redistibute’ it.
Might as well send each person a bill for their tax burden rather than the voluntary system we have now.
I chose not to pay the 12% F.E.T. on the trailers we built by simply not building the trailers anymore.
Easy squeezy, Lemon peasey!
The biggest problem with a VAT is it’s hidden. Better to have a visible national sales tax so we know what we are paying, and forget that too unless the constitution is modified regarding the income tax.
As a simple example, consider a corporation that has $10 billion in revenue, but net income of zero and taxable income of zero. Corporate tax revenue under the existing system would be zero, but the VAT at a 20% rate would produce tax revenue of $2 billion, regardless of whether the corporation made or lost money.
VAT is a convenient way for politicians to suck ever-increasing amounts out of the economy into their coffers, without having to be concerned about corporate profits at all. At present, in times of corporate losses, politicians suffer along with the rest of us. With a true VAT, they get theirs, regardless of how much everyone else struggles.
I agree with your statement about corp income tax. It drives me crazy that they call it a Value Added Tax, where is this VALUE you claim to add to it. I wish they would just call it a National Sales Tax. They won’t because people are too stupid to realize that they are being taxed to death.
Unless of course, companies stop producing and selling product, as griswold suggests in #7.
And here is what your price tag will likely look like..
You select a shirt and the price is 50.00 USD. You go to the counter and the sales person says that will be 50.00 USD. You ask what is the tax? “ Oh it is already in the price”. What you may not know is that tax is 25.5%. That is the sales tax in Iceland. Last year it was 24.5%.
In Iceland, when you go to reclaim your VAT tax at the airport ( and you must have a special form filled out by the shop where the item was purchased and not all shops do this) you only get 15% back.
Oh and did I mention that there are annual income taxes in Iceland? Not sure what that amount is on your income but you can bet it is high.
Now, what kind of homes do they have? Some are quite nice, some quite small. What kind of appliances do they have? Not the same sizes we have oh and costs? Let’s say many don’t have tumble dryers...can we say skinny fridges or what we would consider a bar fridge?
Be careful what you wish for you just might get it.
Yup, yup, yup. The only thing the VAT would do is give liberals and Rhino’s more money to spend. It won’t help the deficit one bit.
If the American people can put the right people in office that actually care about this country of ours, the people can turn this thing around. The government will do nothing as long as they have access to our money. We need to cut the money from their hands.
We don’t need additional taxes. We need Congress to cut spending.
I forgot one thing...for foreigners in Iceland, when you are going to get a refund for a purchase on one sales ticket, and if it is 5000ISK or more you must go to their customs to show the items first or the VAT window will not honor your claim...5000ISK is about 38.80 on today’s exchange rates.
I dont know how they got the label in the first place...they have always been big tax and spend government
AARP os already singing the virtues of a VAT tax because Europe is doing it, why not the US!
Europe is jumping off a cliff. Why not the US!
The Left does not recognize that, as the article says, corp taxes are a VAT, paid ultimately by consumers paying higher prices and workers losing jobs ad multi nationals flee America. Of course they hope for the worldwide socialist revival, and they see their salvation not in red shirted mobs, but in the finely tailored Davos Men who see a marriage of Govt, Corp, and Labor erasing boundaries and creating a vast nanny state where decisions are made for our good by bureaucrats and managers in the comfort of their well appointed offices in Brussels, Dvos, London and NYC.(and maybe Shanghai)
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