Capital Commerce

Pelosi Says: Let's Even The Tax Playing Field

October 6, 2009 RSS Feed Print

Via Pethokoukis, I see that Nancy Pelosi is rallying behind the VAT as a way to even the competitive playing field with foreign manufacturers, especially European ones.

But regardless of what we do with the VAT, U.S. manufacturers will still be at a tax disadvantage. That's because U.S. corporate taxes are higher than literally every single highly-developed country in Europe.

I look forward to the day the Speaker will start railing against the unfairness of U.S. corporate taxes!

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Its the way to go. You dont need to look at Ireland, just look north to Canada. Federal GST rate of 5% (ok it started at 7% and is likely still a bit low) and combined with the existing provincial taxes (PST) this adds up to around 12-13% (some provinces have harmonized their PST with the GST into a single, simplified Harmonized Sales Tax HST).
Ireland while also an ok example might not be the best place to be looking these days:
http://www.breakingnews.ie/ireland/state-salaries-doubled-in-decade-says-top-banker-429178.html#ixzz0TBmiNQD7

CanunkinKL 1:46AM October 07, 2009

you think they will get rid of personal / sales/ corporate / crap & tax taxes too? if so, your a douche

jdude of CA 11:33PM October 06, 2009

Yale law professor Michael J. Graetz estimates that a VAT of 10 to 14 percent would raise enough money to exempt families earning less than $100,000 -- about 90 percent of households -- from the income tax and would lower rates for everyone else.

SkyPete of VA 9:27PM October 06, 2009

Pelosi Says: Let's Even The Tax Playing Field

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