{"id":484550,"date":"2010-03-29T11:38:16","date_gmt":"2010-03-29T15:38:16","guid":{"rendered":"http:\/\/blogs.reuters.com\/james-pethokoukis\/?p=3565"},"modified":"2010-03-29T11:38:16","modified_gmt":"2010-03-29T15:38:16","slug":"7-reasons-a-vat-is-a-dicey-proposition","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/484550","title":{"rendered":"7 reasons a VAT is a dicey proposition"},"content":{"rendered":"<p>My guy <a href=\"http:\/\/www.capitalgainsandgames.com\/blog\/pete-davis\/1610\/vat-wont-produce-instant-revenue-easily-collected-revenue-or-fairness\">Pete Davis<\/a> over at Capital Gains and Games unsheathes the katana and slices up the VAT. Not so easy to implement he says. A brief summary of his reasons (though read the whole thing, of course):<\/p>\n<blockquote>\n<p>1. Like the U.K. when it adopted its VAT in 1973, the U.S. will struggle for at least two years and probably longer to implement a VAT.<\/p>\n<p>2. Compared to our income tax, the VAT is regressive.<\/p>\n<p>3. Tax reformers lambast the complexity of our income tax with good reason, but somehow assume that the same people who legislated that complexity will legislate a clean VAT.<\/p>\n<p>4. I can&#8217;t think of a faster way to kill Rust Belt jobs than to impose a VAT.<\/p>\n<p>5. Housing would be hurt by a VAT even if it is zero rated.<\/p>\n<p>6. Exporters would benefit from a VAT, but that benefit would be partially offset to the extent that the dollar appreciated against the currencies of our trading partners.<\/p>\n<p>7. State government sales tax revenues would be directly impacted by a federal VAT.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>My guy Pete Davis over at Capital Gains and Games unsheathes the katana and slices up the VAT. Not so easy to implement he says. A brief summary of his reasons (though read the whole thing, of course): 1. Like the U.K. when it adopted its VAT in 1973, the U.S. will struggle for at [&hellip;]<\/p>\n","protected":false},"author":1063,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-484550","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/484550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1063"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=484550"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/484550\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=484550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=484550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=484550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}