DblDoc
Thinks s/he gets paid by the post
- Joined
- Aug 11, 2007
- Messages
- 1,224
It seems a VAT is becoming part of the discussion on how to solve the revenue/spending problem.
Politics | National sales tax idea getting fresh look | Seattle Times Newspaper
"Everybody who understands our long-term budget problems understands we're going to need a new source of revenue, and a VAT is an obvious candidate," said Leonard Burman, co-director of the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, who testified on Capitol Hill this month about his VAT plan. "It's common to the rest of the world, and we don't have it."
As it is a consumption tax us LBYM types would be impacted less. For those of us with higher incomes if made progressive it could hurt more. I was living in Canada when they initiated it there. I remember all the furor and clamour at the time, now it is seems business as usual and all the doom and gloom impacts didn't apparently materialize. Hopefully some of our Canadian posters can shed further light on how well it has worked out.
DD
Politics | National sales tax idea getting fresh look | Seattle Times Newspaper
"Everybody who understands our long-term budget problems understands we're going to need a new source of revenue, and a VAT is an obvious candidate," said Leonard Burman, co-director of the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, who testified on Capitol Hill this month about his VAT plan. "It's common to the rest of the world, and we don't have it."
As it is a consumption tax us LBYM types would be impacted less. For those of us with higher incomes if made progressive it could hurt more. I was living in Canada when they initiated it there. I remember all the furor and clamour at the time, now it is seems business as usual and all the doom and gloom impacts didn't apparently materialize. Hopefully some of our Canadian posters can shed further light on how well it has worked out.
DD