Word: vat
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...issue of taxation, for example, the Republican platform pledges "further tax reform," but the President has not dropped the slightest hint of whose taxes might be raised how much. Nor has he ever confirmed or denied the persistent speculation that he might propose a value-added tax (VAT), a kind of national sales tax. Treasury Secretary George Shultz, who has once again become Nixon's closest economic adviser after being eclipsed last year by John Connally, told Congress last week that "the probability that the President would want to do it is declining." Shultz offered no guidance...
...Ziegler declared that "the President would not propose tax increases during his second term." That does not necessarily rule out some changes: tax reform could consist of a balanced package of increases and cuts, and White House Aide John Ehrlichman has put forth at least a semantic justification for VAT. If it led to local property-tax relief, said Ehrlichman, VAT would not be a tax increase but a "tax substitution...
...once an actor, now performs mainly as a buffoon. In his latest exercise in melodrama, he even permits himself to be outfitted in a sort of jester's motley: outrageous mustard-colored blazer and lavender-trimmed evening clothes. His chin whiskers seem to have been dipped in a vat of Lady Clairol, so his blue beard is colored like a pair of muddy policeman's pants. All that is needed to complete the costume is cap and bells...
...have seen what the VAT has done to my former country (France), and when I see the VAT coming to my new country I am running scared...
...VAT reminds this writer of a chain letter, where the name at the top, in this case the U.S. Government, gets all. The last name on the list, the U.S. Consumer, gets taken...