Subtraction Method News Today

Congress should resist calls for a VAT on top of all the taxesAmericans already pay.

In the context of unprecedented U.S. budget deficits, some proponents of the value-added tax (VAT) are calling for the U.S. to levy a VAT to close the federal deficit. They are seriously mistaken. While a VAT has some advantages to the current U.S. tax code, adding the VAT to current federal taxes—as proponents propose—would realize none of these benefits and would instead depress the economy. The real cause of the massive federal deficit is Congress’s overspending, not a lack of taxation.

>> i havent spoken to you, mike rogers, since that interview was released yesterday. you must have been stunned like all of us. >> in some jobs in government, especially if youre in the communications side, those arent conversation you should even have in your own office with your own staff. so, thats what was shocking. it seemed a little bit immature and it seemed absolutely not to understand the good boundaries of civility in this town. if you want to get anything done, coming in and talking t...

>> there is a way to have a consumption tax that works. its a subtraction method value-added tax. every party along the way has an interest in collecting the tax and ultimately getting it to the government. it helps with exports. reet tail sales system we have now is terribly pore ougs, lots of things are not taxed. im absolutely certain it will lead to pressure because of black marketing to have all transactions done digitally, no cash. then your privacy goes away, the litigants, an estranged s...