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Blackholeshine

Usa To Introduce Vat!

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If I were an American I would be really worried about that. I can rememeber when turnover tax, which was VAT, was introduced in Ireland in the mid 60's. I happened to be in Dublin at the time and when I asked why there were protesters in the streets. It was explained to be that they did not like the idea of the introduction of a new tax of 1½% (if I remember correctly) on the sales of goods. Don't forget that a turnover tax or VAT is at the end of the day just a sales tax to the end user.

Well, I thought 1½%, thats not much, not really going to hurt anyone, who cares. But, VAT is 21% there now as far as I know.

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The USA already has a sales tax.

When I lived there the rate varied depending on the State. 0 in Navada and 6% in most other states.

I suppose the difference with VAT is that it is levied on the whole production chain.

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This article discusses how it will be difficult for the USA to close its budget deficit. The situation in the UK is worse because we start with taxes which are probably already as high as they can go - both VAT and income taxes-without becoming counterproductive.

I suppose they could tax essentials like water and basic foods in the UK or put VAT on income tax like they put VAT on fuel duty :o

Liam Byrne was on R4 this morning and he kept saying (in Nulabourspeak) that income taxes will be going up under a Labour Government. He actually said that they had made a start but there was more pain to come,

meaning that there will be income tax rises for the middle and lower paid

I think this is inevitable but its the first time I have heard a Labour MP admit it, even if it was heavily obscured and even Humphries didn't pick up on it.

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This article discusses how it will be difficult for the USA to close its budget deficit. The situation in the UK is worse because we start with taxes which are probably already as high as they can go - both VAT and income taxes-without becoming counterproductive.

I suppose they could tax essentials like water and basic foods in the UK or put VAT on income tax like they put VAT on fuel duty :o

Liam Byrne was on R4 this morning and he kept saying (in Nulabourspeak) that income taxes will be going up under a Labour Government. He actually said that they had made a start but there was more pain to come,

meaning that there will be income tax rises for the middle and lower paid

I think this is inevitable but its the first time I have heard a Labour MP admit it, even if it was heavily obscured and even Humphries didn't pick up on it.

All to sustain govt spending and try and prevent cuts. Because only the nasty Tories cut public spending because they are evil. The good labour govt keep spending other peoples money because it's the right thing to do.

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All to sustain govt spending and try and prevent cuts before the next election. Because only the nasty Tories cut public spending because they are evil. The good labour govt keep spending other peoples money because it's the right thing to do.

Fixed

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