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To: GraceZ who wrote (25081)	11/5/2004 2:52:32 PM
From: KyrosL	Read Replies (1) \| Respond to of 306849

A VAT also will help alleviate overconsumption and inadequate savings. The fact that most of the goods that will be subjected to VAT come from abroad (I assume food and medicine will be excluded) is an added bonus.

To: GraceZ who wrote (25081)	11/5/2004 5:25:33 PM
From: JBTFD	Respond to of 306849

<I find that you can almost never read about taxes where someone isn't trying to sell you a bridge.> LOL, yes that seems to be the case also with political discussions. And thanks for the nutshell version. It is much more desirable to get that than to wade around in the muck at the IRS website trying to figure it out.

To: GraceZ who wrote (25081)	11/5/2004 8:57:36 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"It basically gets the government out of the business of directing the economy into this industry or that to reward political favors. The current tax system is rife with this kind of distortion." That depends on where the VAT is directed. A much simpler reform would be to eliminate all the tax exemptions and deductions and go to a flat income tax and exempt the first 30k. You could even surcharge all the wage earners over say $200k. This would probably result in a rate of about 16-19%. Unfortunately, you'd see charities, RE interests etc. scream bloody murder. Also, don't expect the government to give up the ability to tax in order to manipulate the economy.