tag:blogger.com,1999:blog-6449184277391958672.post7360790793002237265..comments2023-12-27T13:40:55.208-05:00Comments on Sound Of Cannons: New Evidence from Japan Shows Why Romney’s Interest in a Value-Added Tax Is so TroublingPillar Of Autumnhttp://www.blogger.com/profile/08468782203695519941noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6449184277391958672.post-31216819678000374782012-01-18T11:47:50.917-05:002012-01-18T11:47:50.917-05:00VAT should REPLACE the CorpIncTax...not an "a...VAT should REPLACE the CorpIncTax...<b>not</b> an "add-on" tax. This would make the U.S. more competitive in this era of globalization. All our trading partners, including China, and over 130 countries now use VAT to eliminate the cost of government from the price/value relationship of goods and services in international trade. VAT burdens imports equally and is subtracted from exports.<br /><br />Replacing the CIT by VAT would eliminate the double-taxation of dividends, and make the U.S. the lowest CIT country (zero) which would result in multi-national corps bringing home the profits parked abroad and attract more foreign investment.<br /><br />To demagogue VAT as "European" and a road to more welfare state is a mistake. Replacing the CIT by VAT would eliminate a competitive disadvantage.Steve Abramsonhttp://www.vatinfo.orgnoreply@blogger.com