To: Timocrat
You can construct a VAT to work in either fashion, tax-on-tax or input-only. US gov'ts at all levels are thoroughly addicted to the present-day tax-on-tax schemes in place throughout the nation, and there is no plausible reason to suppose that the greedy hands of the Regress will design anything other than a tax-on-tax VAT scheme.
78 posted on
08/02/2004 7:56:19 AM PDT by
SAJ
(Buy 1 NGH05 7.50 call, Sell 3 NGH05 11.00 calls against, for $600-800 net credit OB. Stone lock.)
To: SAJ
You can construct a VAT to work in either fashion, tax-on-tax or input-only. True. But almost all European nations use the input only, hence 'Value Added'.
82 posted on
08/02/2004 8:02:09 AM PDT by
Timocrat
(I Emanate on your Auras and Penumbras Mr Blackmun)
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