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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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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