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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (246886)	8/21/2005 9:59:19 PM
From: Joe NYC	Respond to of 1571709

John, You can partially blame computers for that (of more precisely software). I am a programmer (as part of my job) and I knew you would find a way to blame me. <g> Always looking for good ideas. The idea is to shift the taxation burden from production to consumption. When it is on production only, Chinese importer does not pay a dime to pave the road that leads to local Wallmart, US producer pays all of it. Switching taxation to consumption, all of the imports would be subject to the same consumption tax as domestically produced goods and services. The imports will probably hit close to 2 trillions this year. If the consumption tax is between 15 and 20%, this would mean additional $300 to $400 billion to the treasury, lower taxation on the domestic producers, and a more internationally competitive US. BTW, all of Europe is doing it. This means a double whammy on US producers. First they have to pay all of the US tax burden, then they have to be subject to 20% VAT across Europe, and pay part of their taxation. Joe