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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Step1 who wrote (51163)6/22/2004 3:17:51 PM
From: Tommaso  Read Replies (1) of 74559
 
>>>The problem with VAT is that it usually creates a huge black market <<<

I went back to check and see if I had overlooked something sensible in your messages, and decided I had not when I read this.

The VAT has been in effect in Europe and England for many years and there is no "huge black market".

It is hard to carry on a reasonable discourse when the other party invents his own facts.

I think a VAT tax on outsized SUVs, yachts, and indeed overpriced item would be a wonderfully progressive way to help finance government, instead of taxing income. It would also mean that the person driving a $50,000 BMW would demonstrate even greater superiority to other people by having paid an additional $10,000 in taxes, proving his excellence to those of us who drive cars costing 75% less.
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