06-20-2015, 07:40 AM
(06-19-2015, 07:05 PM)StLucieBengal Wrote: http://www.forbes.com/sites/danielmitchell/2015/06/18/senator-rand-pauls-very-good-tax-plan-needs-one-important-tweak/
Forbes critique.
Not surprisingly, I disagree on some of the points there. Most importantly, I disagree on the last one. The author of the article claims that the business activity tax proposed would not allow personnel expenses to be deducted. They weren't mentioned specifically in Paul's statements, so I'd like to see evidence that it has actively been stated they will be removed. If those expenses are not going to be included, then I agree, the tax would be very much like a VAT, though it would not have the final stage at the end consumer level. However, the article makes the claim that this would be a new source of revenue for the government, which is a half truth. It's a replacement. With his tax plan you are losing duties, tariffs, and corporate income tax. All of that to be replaced by Paul's new BAT. When you recognize this as a replacement, the argument at the end of the article becomes unnecessary and really just a biased point of view against the 'socialist evils' of VAT.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
