View Poll Results: Should the Federal Govt. implement a Value Added Tax (VAT)?

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Thread: Should the Federal Govt. implement a Value Added Tax (VAT)?

  1. #11
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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by ttwtt78640 View Post
    Exempting themselves, of course.
    Well of course! Somebody has to be the HMFIC.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by Lutherf View Post
    Well of course! Somebody has to be the HMFIC.
    Yep, members of "the party" naturally deserve special perks.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by Lutherf View Post
    Well of course! Somebody has to be the HMFIC.
    If you add an S to that, we can share.
    Quote Originally Posted by Fenton View Post
    Hillary is the only defense I or anyone else needs.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Well, it all depends what it is and what it replaces and what are the rules.

    I am against the FairTax because I think it would be a disaster.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    I tend to be against it as sales taxes and similar taxes tend to be regressive in nature. Ny necessity the poor and middle class tend to spend a larger percentage of their income on consumption than the rich.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by BrewerBob View Post
    I tend to be against it as sales taxes and similar taxes tend to be regressive in nature. Ny necessity the poor and middle class tend to spend a larger percentage of their income on consumption than the rich.
    Then exclude certain products.
    And you can implement a rebate as we have in Canada for low income levels. If I recall correctly it comes in every 3 months, based upon last year’s income.

    Now add that tax to a person buying a 10 Mil house.
    Quote Originally Posted by Fenton View Post
    Hillary is the only defense I or anyone else needs.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by JANFU View Post
    Harmonized sales taxes
    It would be implemented as a national sales tax. Company A sells product to company B and to company C- is a sales tax added at each step in the chain of company to company sales?

    Goods and services tax/harmonized sales tax (GST/HST)

    In canada the VAT was added over and above Provincial sales tax. Most if not all provinces have harmonized their Prov rates with the federal govt. Alberta does not have a prov. sales tax. May have after the election?????

    Also as it impacts low income, a percentage based upon that - income level - family size is rebated.
    Goods and Services Tax (Canada) - Wikipedia, the free encyclopedia
    Just do the sales tax at the consumer level. I do know that a vat is optimal in allocation terms. But you need a whole bureaucracy to implement it and it is prone to fraud. If you want to get rid of income tax you could still reduce cost by downsizing irs though.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    We absolutely should *not* add a VAT to our current set up. If anything we should be looking at our existing tax code before doing something so stupid as adding a VAT to existing conditions.
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    Quote Originally Posted by joG View Post
    Just do the sales tax at the consumer level. I do know that a vat is optimal in allocation terms. But you need a whole bureaucracy to implement it and it is prone to fraud. If you want to get rid of income tax you could still reduce cost by downsizing irs though.
    Well, the Govt is broke, deficits are high, programs cuts and tax increases are/should be on the table.
    A VAT is only paid on the end use product.
    Sales tax- is that not added at each level of the chain from product received to thru various vendors till you purchase it? That can be regressive.
    Quote Originally Posted by Fenton View Post
    Hillary is the only defense I or anyone else needs.

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    Re: Should the Federal Govt. implement a Value Added Tax (VAT)?

    No, unless the federal income tax is then eliminated.

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