Word: vat
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...VAT of about 20 percent would produce the same amount of revenue, with many benefits, not the least of which is its simplicity...
...income tax code, thousands of pages long, is in dire need of simplification. We could dramatically improve our tax system by implementing a value added tax (VAT) to replace the personal income, corporate income, and payroll taxes...
...consumers, the VAT tax would be easily computable, since it is much like a retail sales tax; with a 20 percent VAT, a good or service which costs $100 would be taxed $20. There would be no deductions, exemptions, or credits to worry about. Thousands of pages of tax codes and regulations could be done away with...
Exact plans for Disney's America are in a state of evolution. At first they included a water adventure with Lewis and Clark through pristine America, a factory town with a high-speed ride around a vat of molten steel, a county fair with a 60-ft.-high Ferris wheel, a Civil War fort and simulated skirmishes, old trains, a working farm and a Victory field where kids could parachute from a plane and operate tanks. These concepts are being reworked, but Disney is secretive on just...
...pick Fred Goldberg, the IRS chief under Bush, as their executive director. Goldberg is an advocate of shifting federal taxes away from income to consumption, as are -- in a general way -- Danforth and Kerrey. This worries Clinton economic advisers. Having been singed already this year by a VAT scheme, they don't want the President to be associated with any similar proposals -- at least not during his first term -- from a panel that he created...