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Evidently there are more and more Amendments Perry wants to do away with. The latest is the 16th. I imagine those pesky 13th, 14th, and 15th would be next.
They all contradict The Bible, so I would imagine they are in the crosshairs.
3 comments
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lostlakehiker Tue, Aug 23, 2011 3:39:17pm |
When Democrats propose the same tax, they just give it a different name. It's not "Fair Tax", it's not a national sales tax, it's a "value added tax" and it's a great idea.
Pelosi says new tax is 'on the table'
By Michael O'Brien - 10/06/09 10:59 AM ETA new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.
Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.
"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.
The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.
Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.
"They get a tax off of that and they use that money to pay the healthcare for their own workers," Pelosi said, using the example of auto manufacturers. "So their cars coming into our country don't have a healthcare component cost.
"Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that's one part of it," the Speaker added. "But in the scheme of things, I think it's fair look at a value- added tax as well."
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RadicalModerate Tue, Aug 23, 2011 8:02:58pm |
re: #1 lostlakehiker
Value added taxes are not the same as sales tax.
VATs are collected only on the increased value of an item at each stage of distribution - meaning that the tax load is shared between the manufacturer, distributor, retailer and the consumer.
Under the current sales tax system, only the final consumer pays taxes on retail items, as manufacturers and resellers pay zero tax on items sold for resale.
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lostlakehiker Wed, Aug 24, 2011 9:40:08am |
re: #2 RadicalModerate
Value added taxes are not the same as sales tax.
VATs are collected only on the increased value of an item at each stage of distribution - meaning that the tax load is shared between the manufacturer, distributor, retailer and the consumer.Under the current sales tax system, only the final consumer pays taxes on retail items, as manufacturers and resellers pay zero tax on items sold for resale.
You are mistaken. In a VAT, the entire burden of the tax falls on the final consumer, because at each previous step, the buyer is rebated his tax when he sells it up the chain of production or distribution. Thus, imagine a car.
The coal miner sells coal to the steel mill. The steel mill pays VAT on the coal. The coal is used to fire the mill and make steel.
The steel is sold to an auto company. The auto company pays VAT on the steel, and bundled into the same transaction, the steel mill is rebated the VAT it paid on the coal. After the rebate, the steel mill has paid ZERO VAT.
The auto mfg sells the car to a dealership. The dealer pays VAT on the auto. It spiffs it up, advertises it, and shows it. It sells it, and the consumer pays VAT on the auto. Bundled into that transaction, the dealer is rebated the VAT it paid. At the end of the chain of taxes and rebates, the entire load of the tax has fallen on the ultimate consumer. No one else is out a penny.
You could read all about it in this wikipedia article. VAT ends up being a sales tax.
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