[Dead Corpse]

They can call it a doughnut, it doesn’t make it one.

A VAT is a tax on each stage of production. Hence the name; value added.

How is a tax on gross receipts, minus fica/etc, the same?

Answer: it isn’t.

[kiryandil]

A VAT is a tax on each stage of production. Hence the name; value added.

I'm aware of what a VAT is.

I hang out at an economics forum.

I will point out that a matter of gospel over there is that businesses don't pay taxes - their CUSTOMERS pay the taxes.

[pilgrim]

Do you think there are no taxes on each stage of production now?