mbs
On Fri, 31 Dec 1999, Max B. Sawicky wrote:
> The VAT is entirely "GATT-legal." It is widely held to
> be regressive. It is also said to imply a zero rate of
> tax on capital, since all investment is deductible in
> the year of expenditure.
>
> I have a paper arguing against the conventional view,
> but unfortunately it's buried in another, much longer
> paper.
Are you saying there's an argument to be made that VAT is not regressive?
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com