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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (17312)2/14/2004 10:29:28 AM
From: KyrosLRead Replies (1) of 306849
 
The biggest advantage the EU has over the US in terms of trade is the 15+% value added tax that every EU citizen pays on purchased goods. Since a lot of these goods are made outside the EU the tax acts as an indirect tariff, in addition to helping curb consumption and increase savings. The tax is one of the key reasons the EU is not running the huge trade deficits we are. What's more, the VAT is perfectly legal by WTO rules, and other countries, like Japan, have recently adopted it. In the US we have state taxes but for the most part they are middle single digit.

A national VAT and a national health insurance plan (paid for by the VAT) are two of the most important things the US can do right now to boost its global competitiveness, IMO.
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