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Author: gdett2 Big gold star, 5000 posts Old School Fool Ticker Guide Answer Team Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77550  
Subject: VAT- Value Added Tax Date: 11/30/2010 1:50 PM
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I thought I would start a new thread on this.

I have read good and bad about this type of taxation. A lot of countries, about 150, use this model.

The US scenario I saw had a multi-year transition from income tax to VAT.

Another showed the depth it could be implemented at. The worst was "any time money changed hands". This was a little scary. A tax was levied when you rcvd a pay check, when it gets deposited by you, when you write a check, etc. Most agreed that this would not be realistic.

It does show that the rules for it need to be made more bullet-proof than our current laws are, being changed each time a new congress gets elected.

Here is one article from April, 2010:

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