[lbo-talk] Current status of a US VAT or GST

[Max B. Sawicky]

The R's keep talking about it but so far have
never quite gotten up the gumption to push it
legislatively.  If we get it, it will come in
the form of a sales tax or what's called a
"subtraction VAT."  The R's hate the Euro-style
VAT because it works too well.  Subtraction VAT
is administered like the current corporate tax,
but the tax base includes labor compensation
and excludes purchases of capital goods.

The corps like the current state of affairs.
The corporate income tax is vanishing as we
speak.  A good VAT would undo all their hard
work, perforating the current system with
loopholes.

mbs

-----Original Message-----
From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
On Behalf Of Marvin Gandall
Sent: Wednesday, October 13, 2004 8:36 AM
To: LBO-Talk
Subject: [lbo-talk] Current status of a US VAT or GST

Is a consumption tax (VAT or GST) not on the agenda in the US? Is this
unpopular measure liable to be sprung on an unsuspecting post-election
public? Aren't US corps pushing for it? What's the position of the
respective parties? Enlightenment appreciated.

MG

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