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Politics : Politics for Pros- moderated

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To: Hank Scorpio who wrote (298362)	3/27/2009 11:11:54 AM
From: ManyMoose	1 Recommendation Read Replies (3) of 793876

We all need to know exactly what a VAT is. Is it that if you sell a Widget for $100 and it cost you $20 to buy the components and $30 to spruce it up so somebody buys it for $100, then you pay tax on $50? What if you sell it for a loss? What if your value added is your own labor? What then? I think the reason Ullman lost the election for promoting the VAT is that PEOPLE DON'T TRUST THE DAMN GOVERNMENT REPLACE EXISTING TAXES WITH A NEW ONE. They are pretty sure the government will just ADD the Tax to the ones it already collects. Maybe they should call it the ADDED TAX VALUE.

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