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Reply #21: It's not actually a value added tax. It's a national RETAIL sales tax. [View All]

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Bowline Donating Member (670 posts) Send PM | Profile | Ignore Mon Aug-02-04 09:05 AM
Response to Reply #20
21. It's not actually a value added tax. It's a national RETAIL sales tax.
My understanding of the difference is that in a VAT system, such as that in the UK, a tax is added each time money and goods change hands.

In the National Retail Sales tax system only the final, retail sale of a product would be taxed but not the intermediate sales that take place prior to the final retail sale of a product.

I still think that total elimination of Federal income tax is the best plan of all. It has worked before and it could work again if only the federal government were scaled down to it's Constitutionally authorized functions only.

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