A number of economists (here, here) have tried to deny that America has a VAT (Value-Added Tax) problem that's harming our trade balance.
It seems Crazy Billionaire has said we do, and he's not allowed to be right about anything.
Unfortunately, their denials, while sometimes narrowly true per their exact phrasing, are slippery evasions that turn on wording.
Right now, when goods are produced in a country that has a VAT, that VAT is rebated on export.
HM Revenue & Customs, the British tax agency, said on Monday that it wouldn’t charge a 20 percent tax, known as a value added tax, or VAT, on trades of the virtual currency.
RANDALL HOLCOMBE: The Value Added Tax: Too Costly for the United States. “While one can debate the merits of a VAT in other countries, the tax is clearly not a good fit for the United States. It would tax a base that has traditional...
JERRY POURNELLE ON WHAT’S WRONG WITH A VALUE ADDED TAX: “A VAT would lock the 7% exponential growth of government in place for decades; the result would be a doubling of the size and cost of government every 12 years until the colla...
JOHN SCHINDLER: Denying America’s Islamist Terror Problem Doesn’t Make It Go Away—It Makes It Worse: FBI release of Mateen 911 calls proves what media and government doesn’t want to admit.