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The Value Added Tax Would Raise Tons of Money; and that's Why it's Wrong

Ron4594 Wrote: May 04, 2012 1:31 PM
PRIVATE SECTOR WORKERS PAY ALL DIRECT AND HIDDEN-INDIRECT TAXES, and are the only ultimate source of all direct and hidden indirect tax revenue. Regardless where government collects it, all tax money ultimately comes from us, the people. Since we the people are the one and only source of all tax revenue: THERE SHOULD BE ONLY ONE TAX TO COLLECT ALL TAX REVENUE. It should be a single, simple, fair, direct, individual, full-income tax levied on living persons for each level of government: ONE TAX AND DONE. THESE TAX ELIMINATIONS ARE SPENDING CUTS. ONE TAX AND DONE WILL REDUCE THE PRICE PAID FOR EVERYTHING BY 40% (TWO-FIFTHS).
jmccune Wrote: May 05, 2012 7:15 AM
If your interested in a "One Tax and Done", then the FairTax is the answer. Tax people on what they take out of the economy (consumption), not what they put into it (income).

I’ve written before how “The Value-Added Tax Would Be a Money Machine for Big Government.”

Writing for Bloomberg, Josh Barro has a piece entitled, “Value-Added Tax Would Raise Tons for U.S. Coffers.”

So you might think we see eye to eye on this issue, but that would be a rash assumption. While I see a giant new tax as a dangerous step on the road to serfdom, Josh thinks it’s a necessary and desirable reform.

…it is time to reconsider a VAT. It would be both substantively better and more politically palatable. Here’s why: A value-added tax raises a...

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