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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: see clearly now who wrote (98009)	5/28/2009 10:58:15 AM
From: benwood	3 Recommendations Read Replies (1) \| Respond to 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.

To: see clearly now who wrote (98009)	5/28/2009 1:10:06 PM
From: mishedlo	1 Recommendation Respond to of 116555

Initial Unemployment Claims Dip Slightly; Continuing Claims Approach 6.8 Million, 17th Consecutive New Record globaleconomicanalysis.blogspot.com The peak in initial claims might be in but the peak in unemployment is nowhere close. Continuing claims hit 6.788 million, setting a record for the 17th straight week. ... Mish

To: see clearly now who wrote (98009)	5/28/2009 1:14:28 PM
From: Riskmgmt	3 Recommendations Respond to of 116555

<<.its a very good form of Tax because it encourages frugality, saving and collection.. saves on professional Tax dodging fees and schemes including the inherent regulatory, policing and legal-judicial costs that are value-subtracting to an economy>> I can tell you that based on the European model all it does is expands the welfare system and Governments control of it's citizens. It was proposed some time ago as a way to reduce income taxes now it is proposed as a solution to deficits. I agree with others who have pointed out the only way to solve deficits is to cut spending and REDUCE government. Giving them more revenue is like giving a shop-a-holic a platinum card, rather than treating their disease.

To: see clearly now who wrote (98009)	5/28/2009 7:33:39 PM
From: Skeeter Bug	4 Recommendations Read Replies (1) \| Respond to of 116555

>>..its a very good form of Tax because it encourages frugality, saving and collection.. saves on professional Tax dodging fees and schemes including the inherent regulatory, policing and legal-judicial costs that are value-subtracting to an economy<< yes, but no tax will fix a spending problem. instead, it will enable the spending problem. >>...and very important as you mentioned, is it allows the reduction of other individual and corporate taxes that might discourage innovation and hard work!<< cut taxes? with a $3.5 trillion cash need ($2 T for deficit, $1.5 T to re-up maturing debt), i assume you were making an attempt at humor when you mentioned tax cut. the math doesn't work. the math doesn't lie - the system is broken.