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Politics : View from the Center and Left
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To: Metacomet who wrote (209551)11/26/2012 3:51:56 PM
From: cosmicforce  Read Replies (1) of 540884
 
The accounting for VAT could be done with RFID technology. This is why non-RFID goods would have to be declared or by default, be contraband if newer than say, 3 years- it is fairly easy to track an item and know who held it last and who sold it if it has an RFID. It would behoove us to get an electronic bill so we could show we paid.

In my hypothetical, everyone would get a rebate (possibly each month, like credit card billing) for the first $10k as a general living exemption. If a family of four is spending more than $40k per year on purchases, they probably aren't that poor but it seems reasonable to get your money back as you spend it - up to the limit.

I totally agree that having to guess at what you owe is utter BS - you shouldn't need an accountant or tax professional.
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