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To: ApesForEvolution
ITS A BIG ASS TRAP.... What we need like a hole in the head is the "Globalists" getting together on a "Tax Policy".
8 posted on 12/18/2002 2:38:03 PM PST by RISU
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To: RISU
I got that out of it as well. Reform? Great. Global taxes? No thanks.
10 posted on 12/18/2002 3:10:12 PM PST by ApesForEvolution
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To: RISU; ApesForEvolution

What we need like a hole in the head is the "Globalists" getting together on a "Tax Policy".

This has been in the works for several years now, part of converting our tax system in to an individual income tax plus EU style VAT.

http://www.taxfoundation.org/foundationmessage03-00.html

"Under the WTO definition of the term, a sales tax is an indirect tax, as is an European-style VAT. The economic equivalence of an European-style VAT and a subtraction-method VAT is well-established. A subtraction-method VAT is essentially identical to a business income tax except that all purchases of plant and equipment may be expensed, rather than depreciated as under current U.S. law."

House Ways & Means Committee hearings in 2001 were held on how and why we should make changes to make our Corporate tax system WTO compliant. The changes put forward in the above article are in line with creating an individual income tax plus VAT system of the European Union.


 

I would prefer getting rid of all individual and Corporate taxes, and going to a totally visible single rate single stage Retail Sales Tax. Such a tax has the advantage that exports have no taxes embedded in them overcoming the problems of corporate taxation that embeddes taxation in the price of goods and services and makes the real burden of federal taxation visible to the citizen providing an incentive towards smaller government an expenditure reductions.

Thomas Hobbes from Leviathan


11 posted on 12/18/2002 3:10:52 PM PST by ancient_geezer
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To: RISU
you got that right
25 posted on 12/18/2002 5:20:07 PM PST by Texas_Jarhead
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