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The Business Consumption Tax
What are the implications?
1. It is a hidden tax. When congress wants to raise it only a few greedy corporations will complain. The average voter will be easily sold hikes on this tax as sticking it to the evil rich.
2. It is a tax on labor. Costs of goods and services are subtracted out. It used to be a fundamental conservative understanding that if you want less of something; TAX IT. By way of explaining progressive terminology I remind that LABOR means JOBS for WORKERS. Taxing labor, as this VAT does, means fewer jobs and not as a function of increased productivity (good) but as a function of the tax [...]
Continue reading A Few Quick Thoughts on The Ryan Plan
