The Hurrier We Go, the Behinder We Get

It is an article of faith that a Value Added Tax (VAT) is in the deck of cards being played to American taxpayers. It will come sooner or later... It's just a matter of when this hand will be dealt and how it will pan out. As one of our friends at TAX.com points out, the power of value added taxation...

Heretic! Apostate! "So-Called" VAT Lover!

Pity the lost soul of Mitch Daniels. Long a paragon of virtue and morality, he has strayed from the True Faith. In a recent speech to conservative bigwigs , Daniels suggested that a value-added tax, coupled with a flat-rate income tax, might be a reasonable basis for tax reform. For this unpardonable...

Mitch Daniels Talks VAT

Indiana's Republican Governor Mitch Daniels wears leather, rides a Harley-Davidson motorcycle, and once fished discarded quarters out of a toilet bowl so he could pay for a beer. (Okay, not your typical Princeton graduate, but points for originality.) We're talking about Daniels because of his...

Herman Cain's 999 Plan: Stepping Stone to a VAT?

GOP presidential candidate Herman Cain is promoting fundamental tax reform. Bravo! Somebody needs to do it. Like most ideas designed to appeal to Joe-the-Plumber types, Cain's proposal is charmingly simple yet fundamentally flawed. It's called the " 999 Plan ." It would repeal the current...

Cain's 9-9-9 in 90 Seconds

Cain gets rid of the entire current system-income, corporate, payroll, and estate taxes. In its place he would institute three new taxes. His "9% business flat tax" is simply a value-added tax dressed up to look like a corporate tax. His "9% individual flat tax" is a payroll tax where...

The Flat Tax is a VAT . . . in 90 Seconds

Republicans despise the value-added tax. But the flat tax they admire so much is nothing more than a value-added tax split into two parts. A value-added tax is a tax collected from business. The tax base is the difference between business receipts minus purchases from other businesses. There is no deduction...

The Flat Tax is a VAT . . . in 90 Seconds

Republicans despise the value-added tax. But the flat tax they admire so much is nothing more than a value-added tax split into two parts. A value-added tax is a tax collected from business. The tax base is the difference between business receipts minus purchases from other businesses. There is no deduction...

A Grown-Up Conversation About Corporate Tax

Nothing is more fun for liberals than to catch a big multinational abusing U.S. tax laws. Google, Cisco, General Electric, and Apple -- to name a few -- now have public relations problems because the press has put a spotlight on their use of offshore tax havens. The tax dodging is disgraceful. The worst...

Does America Need A Two-Page Tax Code?

Emphatically, no. I just absolutely disagree with Fareed Zakaria on this , as I do with anyone who thinks that the measure of a tax system is the shortness of its tax code. We live in a complex and intricate world, in which transacting involves complex relationships involving the allocation of risks...