Normal
0
false
false
false
EN-US
X-NONE
X-NONE
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:”Times New Roman”;
mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}
It has been said that a value added
tax (VAT) will not pass because liberals fear it is regressive and
conservatives fear it will increase the size of the federal government. “However, the joke continues, a VAT will be
passed when liberals recognize that it could be a money machine and
conservatives recognize that it is regressive.”
But are the terms of the joke accurate?
Would enacting a vat be trading a regressive tax for more government?
I. What Is a VAT
There is more than one way to
implement a VAT and the intricacies of such implementation are beyond the scope
of this article. Suffice it to … Read the rest