A VAT is a tax on the transfer of goods and services that ultimately is borne by the consumer. Highly visible, it would increase the cost of just about everything, from a carton of eggs to a visit with a lawyer. It is also hugely regressive, falling heavily on the poor. But VAT advocates say those negatives could be offset by using the proceeds to pay for health care for every American -- a tangible benefit that would be highly valuable to low-income families.
Thursday, May 28, 2009
VAT tax coming?
Numbers being bandied about are between 10 and 25% on EVERYTHING purchased. The tax would be embedded into the price of EVERYTHING so that consumers will not know they are paying it. This, in addition to the cap and trade legislation, would overwhelm taxpayers and the economy.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment