Thursday, April 15, 2010


Washington, DC "Taxation Without Represen...Image via Wikipedia
It could be a good idea to discuss the future tax situation on a day like this...

I have listened to Jim Blasingame's interview (Is a VAT tax in the future for the United States?) with Brian M. Carney and I plan to listen to the following podcasts in the near future:

In the news: U.S. Consumption Tax Is Tempting VAT of Poison by Caroline Baum.

Congratulations! You’ve just finished working for the government. April 9 was Tax Freedom Day, the day on which Americans have earned enough to pay their federal, state and local taxes, as calculated by the Tax Foundation, a non-partisan tax research group in Washington.

Enjoy it while it lasts. As Americans awake to the 2009 tax-filing deadline today, they can look forward to working longer and harder for the government in the future -- at least the dwindling share that pays individual income taxes.

Enter the VAT, or value-added tax, a whole new source of revenue for the government. The VAT, a fixture in Europe for decades, is a broad-based consumption tax levied at each stage of production on the “value added,” as the name implies. (Business Week, 04/15/10.)

From my post, QUIPTOON FOR TAX DAY (4/11/09):

John Cox Art.

"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle." -- Winston Churchill. (

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