January 4, 2012

SO SUBSTITUTE IT FOR THE INCOME TAX:

Will Republicans Hand the Left a VAT Victory? (DANIEL J. MITCHELL, 1/04/12, WSJ)

Most Republican supporters are drawn to the VAT for relatively benign reasons. It is a single-rate system, like the flat tax, for raising revenue, so it does not raise the possibility of class-warfare demagoguery. The VAT also doesn't hit savings and investment. And there are no distorting and corrupt loopholes. So there's a lot to like about the levy--or would be, if there were some practicable way of substituting a VAT for taxes on income.

Posted by at January 4, 2012 6:58 PM
  

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