"John Flanagan" wrote in message
...
On Sat, 19 Jul 2003 16:12:35 GMT, (Gary Coffman)
wrote:

VAT (sales tax) isn't the problem. At least it is a fair tax. The problem
is
that instead of using it to replace other less fair forms of taxation,
they
levy every other sort of tax too. So they wind up grossly overtaxed
compared to the US.

(Those of us who consider the US to be grossly overtaxed find
the level of European taxation to be simply unbelieveable.)

Unbelieveable is the least of it. What I find outrageous is all the
hidden taxes, which I think you were alluding to. When I pay "X"
dollars ofr "X" product how much of that price is tax? Who knows.
Vote for me when I run for president and we'll end all the hidden tax
crap.

For a real eye-opener, John, take a look at the taxes (income, corporate,
value-added or equivalent) of the US and our major trading partners, which
are mostly advanced economies. You'll find that our total taxes are so close
to theirs, overall, that you'll probably be shocked. Finland, France, Italy,
and one or two others are quite a bit higher than us, but most are fairly
close. Even China has almost the same basic tax structure and percentages
overall.

(BTW, to figure out where we are without a VAT, consider that our state and
local sales taxes are close to the same thing, although much lower in
percentage. Italy's VAT is the highest or close to it, at something like
22%. Most of Europe is under 20%. China is 17%. But here's the kicker: When
you have a VAT and your trading partner doesn't, like the US, your VAT
amounts to an export subsidy that you don't have to declare. If this is
confusing, I'll explain.)

Then take a look at all of those countries with really low taxes, and think
about how much it's done for them. They're mostly the Third-World ****pots
where you may get one good meal a day and where economic opportunity means a
chance to set up a roadside stand selling exotic roadkill. g

This tax business may require further thought, after all...

--
Ed Huntress
(remove "3" from email address for email reply)