Word: ullman
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...this proposal come from two ordinary legislators, there'd be nothing to worry about. But Long and Ullman control the most important committees in Congress. If they succeed in pushing their VAT through Congress, Americans will pay a regressive "hidden sales tax" which forces lower and middle income people to contribute far more than their share to a government dominated by the interests of Big Business...
...doors to a House-Senate conference drawling, "I hope it won't give anyone a brain hemmorage to hear a new idea." Well Long has just come up with a new one that's bound to give Americans more than a nose bleed. He has gotten together with Al Ullman--the Chairman of the House Ways and Means Committee--to propose a value added tax (VAT) which could drastically change the American tax system...
...POLITICIANS, the VAT has one fabulous advantage over a sales tax. It's hidden. Though Long and Ullman both admit that its costs will be passed onto consumers, the VAT will not look like a surcharge on sales. Instead it will be incorporated in the list prices of all goods. Consequently, most consumers who spend $50 on a case of wine will have no idea that their purchase is really worth only $45 but that the government tax has upped production and distribution costs...
...regressive nature of this tax. Long actually described the VAT as "somewhat like a hidden sales tax." By taxing consumption, the VAT insures that government will take larger chunks out of the earnings of lower and middle class citizens than out of the incomes of the rich. Representative Ullman tries to mitigate this inequity by taxing necessities such as food, housing and clothing at a rate of only 5 per cent. Yet this still raises the price of necessities for the poor, and it certainly doesn't permit the VAT to escape condemnation as a wholly regressive form of taxation...
...narrow the federal deficit. They may move instead for a loan guarantee. Senate Finance Committee Chairman Russell Long has pledged some aid for Chrysler. Says he: "It is better than letting the company fold. That would cost a lot of revenue and jobs." House Ways and Means Chairman Al Ullman is unenthusiastic but promises to expedite whatever bailout measures the Carter Administration proposes...