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Politics : PRESIDENT GEORGE W. BUSH
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To: Father Terrence who wrote (23720)7/11/2000 1:27:32 PM
From: Neocon  Read Replies (1) of 769670
 
It is not, so far, clear to me that a VAT is superior to a flat income tax, although I have nothing especially against it, either. Since the tax rates for capital gains and ordinary income are differentiated, there is, in fact, an investment bias in the tax code. Additionally, certain categories of exemption encourage investment (in the form of pension plans). Graduated income taxes did get out of hand, and become confiscatory on the margin, but that was not inevitable.........
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