Charleston Financial Blog

Rethinking the Tax System

Posted by Myles Brandt on 29 June 2009

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In Washington, the debate on how to pay for health care reform and the current and projected budget deficits has opened the floor to deliberation on the sales tax, commonly called the VAT (Value Added Tax). Although the tax could potentially balance the budget and pay for health care reform, many view it as regressive and therefore unacceptable. It is certainly an interesting time as far as opportunities for social engineering are concerned, but unfortunately, the economy may be too fragile to handle threats to consumer consumption.

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