Benefits of the Value Added Tax
OPS_admin | Mar 05, 2010 | Comments 0
The VAT rewards exports while largely blocking imports. This guarantees domestic demand for domestically produced goods, thereby ensuring that the taxpaying citizens are gainfully employed
The United States still faces a major obstacle in international trade which most people simply know nothing about. This obstacle is the Value Added Tax (VAT) and it costs this economy hundreds of millions of dollars in extra fees every year. Making matters worse is the fact that over nearly 150 nations around the world use a VAT system to protect their economy while the United States remains idle.
The simple fact is that governments need money to operate, and they generate this revenue in many ways. In the United States our government operates only on funds generated through income and property taxation. The sales tax – a form of consumption tax – is marginal in the grand scheme. Most other countries put much more emphasis on consumption taxes like the VAT.
The VAT rewards exports while largely blocking imports. This guarantees domestic demand for domestically produced goods, thereby ensuring that the taxpaying citizens are gainfully employed.
Full Story: Benefits of the Value Added Tax | Economy In Crisis.
Filed Under: Economy - Labor
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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