Amazingly, it was published in the Washington Post. I have to confess, though, that I didn’t find it. I’m in the Cayman Islands for a conference and Jim Miller (Ronald Reagan’s second-term Budget Director and a great American) included it in his presentation. Needless to say, I swiped it from him so I could share with you.
Why a VAT would be worse than other tax, like a personal income tax? Could you update your thoughts on it?
Yeah….the VAT tax is working so well over there in Europe……NOT!
Need proof it’s not working Carmela? Here is the answer:
GREECE
PORTUGAL
SPAIN
ITALY
UNITED KINGDOM
Those countries are collapsing, have unprecedented unemployment, and are TAXED out the A**
What do they have in common? Socialism…..they are all members of The Confederation of Socialist Parties.
Obama is trying wilth all his might to change the United States into a Socialist country.
NOT a good idea.
Do you like your freedoms? Because that will be taken away also….you will be told what you can and cannot do, living like robots, controlled by the government.
Carmela,
The VAT itself isn’t any more or less destructive than personal income taxes. The main problem is many countries have adopted it IN ADDITION to existing income tax structures, which is what some people in our government are thinking right now.
Another problem with the VAT is it creates a new requirement for manufacturers, distributors and retailers (the backbone of our economy) to report their activity to the government, which creates additional administrative burdens that will end up in the price tag of everything we buy.
I believe (not speaking for Mr. Mitchell, but I imagine he would agree) a VAT on its own would actually be an overall improvement to the current unfair and complex tax structure we currently have here in the U.S. Better yet, a simple, end-use (sales) tax on goods would significantly reduce the administration burden of both companies and individuals.
Either way, we MUST hold politician’s feet to the fire, and ensure they repeal the 16th amendment BEFORE enacting any consumption-related tax.
[...] thereof) of copying the tax policy of nations that are teetering on the edge of fiscal collapse (this cartoon has the same message in a more amusing fashion). Drums are beating in Washington for a value-added [...]
[...] Hat Tip: Dan Mitchell [...]
[...] thereof) of copying the tax policy of nations that are teetering on the edge of fiscal collapse (this cartoon has the same message in a more amusing fashion). Drums are beating in Washington for a value-added [...]
VAT is an income tax.
Who do you think Adds Value? It’s employees.
A government that seeks to be God needs to know everything, hence the “requirement for manufacturers, distributors and retailers (the backbone of our economy) to report their activity to the government. . . .”
[...] to a value-added tax (and energy taxes as well). A VAT would be a fiscal catastrophe for America, paving the way for European-style statism. Here’s an excerpt from Politico. Indiana Gov. Mitch Daniels opened the door Thursday [...]
[...] to a value-added tax (and energy taxes as well). A VAT would be a fiscal catastrophe for America, paving the way for European-style statism. Here’s an excerpt from Politico. Indiana Gov. Mitch Daniels opened the door Thursday to [...]
[...] other taxes and/or lower red ink, but all that happened was more spending and bigger government (this cartoon makes the point in a rather amusing fashion). In other words, Milton Friedman was right when he [...]
[...] already posted two other cartoons on this issue (here and here), but can’t resist posting another. As with much humor, this cartoon cleverly captures the [...]
[...] already posted two other cartoons on this issue (here and here), but can’t resist posting another. As with much humor, this cartoon cleverly captures the [...]
[...] can see some amusing — but also painfully accurate — cartoons about the VAT by clicking here, here, and [...]
[...] can see some amusing – but also painfully accurate – cartoons about the VAT by clicking here, here, and [...]
[...] can see some amusing — but also painfully accurate — cartoons about the VAT by clicking here, here, and [...]
[...] Here are three very good cartoons on the VAT (here, here, and [...]
The comments are great. VAT, and with the Pelosi tax on financial transactions they could eventually tax every person of every dollar they every make. NO money due to taxes? No products bought. GM, Banks, Wall street out of business. No rich people to start businesses. Well enough silliness on my part. What a VAT would do is strengthen an underground cash, only economy. Many people are heading towards cash only businesses now days with no accounting for income or out go. It beats the tax issue since there is no way to account or for it to be tracked. Barter would come back in vogue and maybe even quality products would come back instead of the trash we get in the market now.
[...] can see some amusing — but also painfully accurate — cartoons about the VAT by clicking here, here, and [...]
Hi
Vat certainly has it’s problems, which you mention.
The issue for the US is that all it’s main competitors use it to cut their business taxes, and so are more competitive at attracting job-creating industry.
Mexico, Europe and China all have maturing vat systems. India is about to revise its system.
So does the US have a long term choice?
Richard
[...] a humorous – but accurate – perspective on the VAT, take a look at these clever cartoons (here, here, and [...]
Almost 50 percent of the individuals in the U.S. pay no income tax at all and receive most of the financial benefits from the Federal Government sponsored programs. With no financial involvement in the country they are eager to vote for every politician that promises another free handout. If the group of non paying individuals continues to grow then those of us paying the bills will be stripped of our funds and be reduced to living on the Federal Government dole. With VAT each individual can decide what he or she will buy and what taxes they are willing to pay. One can not do this when the Federal Government directs what we must each pay. The VAT is only acceptable if all other Federal Taxes are terminated.
“So does the US have a long term choice?”
Yes. It can take the road less traveled, the one of liberty.
[...] here’s the Washington Post cartoon on the value-added tax. Rate this: Share this:PrintEmailFacebookTwitterMoredeliciousDiggFarkLinkedInRedditStumbleUponLike [...]
[...] can see some amusing — but also painfully accurate — cartoons about the VAT by clicking here, here, and [...]
The FairTax proposal is our only way out! A replacement for our oppressive income-based tax system, it relieves the low-income of federal taxes on essentials and allows the cash economy, tourists and non-citizens to pay taxes.
I agree with the FairTax being best — #1 No need to tell the government what I do for a living, how many kids I have, etc, etc. #2 Changes would be much more transparant than they are now. Certainly changes in the marginal rate would be immediately visible by the people. #3 Everyone would pay their fair share, so long as large-ticket items like houses are not excluded.
http://www.fairtax.org for more info!
[...] the Washington Post doesn’t think the VAT is something that is working for other countries. This cartoon is a classic and definitely worth sharing. And you can enjoy other VAT cartoons here and here. Rate this:Share [...]
The FAIR TAX is the answer. Basically a flat consumption tax with certain credits to protect the poor in society.
[...] At the risk of sounding chauvinistic, we do have some very good American tax humor, such as cartoons about the value-added tax that can be seen here, here and here. [...]
[...] for the Washington Post doesn’t think the VAT is something that is working for other countries. This cartoon is a classic and definitely worth sharing. And you can enjoy other VAT cartoons here and [...]
[...] for the Washington Post doesn’t think the VAT is something that is working for other countries. This cartoon is a classic and definitely worth sharing. And you can enjoy other VAT cartoons here and [...]
[...] Here are three very good cartoons on the VAT (here, here, and [...]