Liberals have been considering VAT's, for a long time.
You just don't hear about it, very often.
Created in 1954 by a French economist, the VAT is the most potent, efficient machine for revenue generation, yet...
This is already well established, here:
They are just gonna add more, and call it something else.
The VAT is essentially a sales tax, except that it's charged at each stage in the development of a product, instead of at the moment when the product is sold.
They are talking about new taxes, on top of existing taxes, from product concept through development,, to consumer, to disposal.
The ease with which a VAT can be increased, points to one of its big drawbacks: Governments see it as an easy way to pay for increased spending, which will drag down economic growth.
By golly, I think CNN is turning conservative...
Still not enough coverage, though.
A European-style tax? Get ready for it. - Dec. 2, 2008
Beware the Value-Added Tax
Get ready for New Tases.
