VATs are taxes added to products at every level of manufacture.
In Europe VATs run as high as 25%. In Britain, the value added tax has grown from 10% to almost 18% and is headed yet higher.
VATs are insidious because they are hidden, They never appear as a tax but only as part as the cost of what you buy. The consumer usually never complains directly against the politicians responsible for imposing them. But instead rails against the innocent merchants on the retail end of the transaction who are the tax collectors.
This is perfect for use by left-leaning politicians. The intermediary businesses and the merchant are also stuck with the paperwork and the inherent bureaucracy that are part and parcel of such taxation.
Now you see why left-leaning politicians in this country are now entertaining the idea of using VATs to pay for their budget deficits, while claiming they are not raising taxes on the poor and middle class. The VATs do just that.
No comments:
Post a Comment