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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: see clearly now who wrote (98009)5/28/2009 10:58:15 AM
From: benwood3 Recommendations  Read Replies (1) of 116555
 
"is it allows the reduction of other individual and corporate taxes"

We can always dream the dream, right?

All those who think overall taxation loads would go DOWN instead of UP, please raise your hand. I see a hand: would you like this free red pill?

The one thing I have noticed about the VAT in Canada, as an occasional tourist, is that it allows Canada to fund part of it's federal budget on the backs of foreigners. No different I suppose than car rental and motel taxes being used here in Seattle to help pay for the stadium projects, but nationwide in scale.

When the VAT first came out in Canada, I was able to get a full refund, but after a few years one had to pay a certain amount in order to get any refund, and the ceiling moved well beyond what we spent in a week.
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