Subject: Look into advantages of a VAT Comment: The problem with our tax system is that, by providing tax incentives, we try to use the system for all types of desirable goals in addition to raising revenue -- everything from buying a home or having children to drilling for oil. That's why it's so hopelessly complicated. Let's get back to the basics of raising revenue, possibly with a value-added tax (VAT) similar to what many European nations use. It makes more sense to tax what we spend rather than what we earn, and it would encourage saving and investing. |