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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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To: Timocrat
Surely you're not asking anyone to believe that the US, ever on its worst day, will actually COPY a European taxing scheme?!? Excuse me while I have a good chortle!

You'll see Satan in a peacoat and muffler before that occurs, and in any case, the anti-Europe animus in the US is far too pronounced among the electorate (not necessarily among the soi-disant ''elites'') for any politico to even suggest such a concept.

Agreed, however, that some flavour of the IRS will still be required...but one can hardly imagine that a successor organisation, in a flat/fair tax regime, will be anything nearly as obnoxious and power-mad as the current ''service''. In a VAT regime, all bets are off; the enforcement organisation could EASILY be as obnoxious as the IRS; consult the Inland Revenue people for details.

:^)

89 posted on 08/02/2004 8:31:33 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.)
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