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VAT: Touching the Ultimate Third Rail

As the U.S. is virtually the only industrializad nation without a value-added tax, the VAT is viewed largely by American citizens as an abstraction... at least for now. But wait until it becomes part of the tax regime landscape! Sticker shock of monumental proportions awaits Americans when a VAT is introduced...

A Ransom Note to America

To: The Citizens of the United States of America From: The Bond Market Date: 2010 Re: Urgent Hostage Situation Dear Citizens: By now you may have noticed that you have NO FUTURE. It's gone, missing, vanished. We have seized it -- together with your children's and grandchildren's future. They...

The End of the World as We Know It

We recently read Roy Cordato's vivid synopsis of what a VAT would mean for the American public. His article appears on the website, The Moral Liberal . ... Cordato... offers his frank opinion on the merits of VAT..."a pernicious and insidious tax," ... that... "poses a fundamental...

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...