In response to:

The Great TCI Anti-VAT Mutiny of 2013

Pistol Wrote: Feb 14, 2013 6:27 AM
Quite right Guy. And the ONLY way to pay your bills is live within your means. There is no way I can feel secure about my social security while knowing 40 % of the money Uncle Sam sends me is borrowed. Why not go back to the level of expenditures of the Clinton administration? I remember we had roads and cops and schools and even an Army and Navy. And we weren't borrowing more than a trillion dollars per year to do it.

The value-added tax is a pernicious levy.

It’s basically a hidden form of national sales tax, imposed every time a transaction occurs at any stage of the production process.

But what irks me about the VAT is not its design (indeed, it shares some key characteristics with the flat tax). What gets me agitated about the VAT is the fact that politicians always seem to treat the tax as a way of financing a larger burden of government spending.

That’s certainly what we’ve seen in Europe, both when the VAT was first implemented beginning about 45 years ago...