Politics And One Mother With A Keyboard. Because in front of every informed voter is a frightened politician.
Wednesday, April 7, 2010
In Economic Woes 04-07
VATs suck because they hide the taxation by embedding the tax into the sales price. My husband's friends always complain that they "pay extra" at the cashier when the sales tax is added on. We explain that our sales taxes range from 5% to 9% depending on location where the EU (hidden) VAT (aka sales tax) is 17% and they still pay income tax too. VAT should be fought tooth and nail here in the states. The only way I'd ever tolerate a VAT is if the tax rate was set and could not be raised without a 2/3 majority vote in both houses AND if the Federal Income Tax was permanently abolished. Permanently. How America might get a VAT of its own And Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax'