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Sung to the tune of “Are you ready for some football?”
Are you ready for the VAT tax?
© 2009, J. M. Erickson. All rights reserved.
VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling. Hummm… do we have any of this? Still wondering is this tax good or bad, in addition to what we have or take the place of.The burden of VAT, like other consumption taxes, tends to be passed on to the consumer. Additionally, since this is a regressive tax, lower income people have the greatest burden. To offset this, necessities are often taxed at a lower rate than luxury items. Okay Karen’s understanding, the poor(er) pay mostly for this, and no one will be able to afford any luxury items. Ummm…so confused!
The VAT is just a way to bury lots of sales taxes into the price of goods. Plus, if there’s a state sales tax, then you pay sales tax on top of the hidden VAT. Just another way for the government to get into your pants.
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