Friday, May 29, 2009

National Sales Tax? Limited Enthusiasm for Opening that VAT.

Using a value-added tax (similar to Canada's goods and services tax) as a way to decrease the budget deficit generates little excitement from those polled by the national Rasmussen Group. The idea is rejected 68-18% with high skepticism of claims that institution of the tax may permit reduction of income tax rates. The idea fares better as a vehicle for expanding health care coverage, overall VAT is then opposed 49-40% with Democrats actually favoring this approach. An alternate strategy of replacing the income tax with a VAT is favored 43-36%, with Republicans and independents mildly favoring and Democrats mildly opposing but no group hitting 50% either in favor or opposition (this alternative is similar to the FAIR tax favored by Neil Boortz and Mike Huckabee among others).

Reports by the Washington Post this weekend brought up the VAT, which leads me to suspect that the Obama administration was bringing forth the VAT as a trial balloon for future revenue-raising.


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