This Center for Freedom as well as Prosperity Foundation video explains because the value-added tax would be the dangerous income appurtenance for large government. The justification from Europe additionally shows which VATs essentially lead to aloft income taxes. www.freedomandprosperity.org
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@danielmy08 you must calculate subtract the vat from your suppliers price work out how much you want to charge then add the VAT to equal your selling price. when it comes to doing your books you adjust as stated you get the tax back for the supplied parts/stock and pay the government the tax on your final sale. If that makes any sense.
@danielmy08 Its free to register. If the tools etc you buy are to be used solely for your business then you don’t pay VAT on them. Yet you must charge VAT at current rate on top of the product price to your customer at the point of sale. If you buy from a VAT registered company and then sell on to your customer adding an additional VAT on top of an already paid VAT, your taxing twice. In the UK this is illegal and you can be fined for not doing your books correctly. You can not tax on tax.
This guy is 100% correct…VAT for governments is like a life of crime to a bum…the more they get habituated to it …the more corrupted and money hungry they become.
@fireicer what does it cost to register for VAT in the UK? How is it you don’t pay VAT on tools etc…seems to me that VAT is levied on everything except essentials like food and stuff for kids.
@plutocratarianism VAT in the UK only becomes compulsory at 65,000 annum turnover bellow this you do not need to be registered or charge vat to your customer. but if your supplier has a turnover of 65k+ then you buy parts with VAT and sell at your price. It does hurt your pocket i just got VAT registered and on everything i buy for my business as a supply, parts or tools i don’t pay VAT. I charge the VAT on the product i sell to the customer at % rate.
well that’s how it should work anyway weather it does is another matter lol. a intel processor at cost $500.00 sold in us is sold to the UK at $500.00 after conversion then mark-up and 17.5% VAT makes this processor much more expensive reducing the overall export sales from America due to the higher price. Hence VAT would help balance out and strengthen the global export sales from America. again i am not saying it works but that’s the supposed principle.
VAT does not work like that lol it is designed to stop traders charging you silly high prices that’s what it for. where you fail in the above explanation is that you cant tax on top of tax technically. a furniture builder claims back the VAT or does not pay VAT if they are VAT registered its the consumer that pays the TAX VAT not manufacturer/supplier. to compete the retailer would have to reduce there prices to match the current price forcing sellers not to overprice product
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Our goverment is out of control. Vote, get involved at a local level.
A VAT tax in the U.S. would cripple Free Trade as it would be placed on all consumption and tariffs on imports, it would bring us into a deeper recession, Herbert Hoover tried this with the Smoot Hawley Tariff Act and that just deepened the Depression.
VAT taxes could also give the government enough power to cap and trade imports and put price ceilings on imports coming into the country.
I really can’t see Libertarians or Conservatives voting for a VAT tax because they both want Free Trade.
@jers59 @jers59 But how? Other than voting in November (but ACORN may rig the elction again) what can we do?
You are a slave. You live on a plantation called America. Your masters? Obama, Pelosi….
@jers59 But how? Other than voting in November (but ACORN may rig the elction again) what can we do?
You are a slave. You live on a plantation called America. You masters? Obama, Pelosi….
thanks dan
@SenorZorrozzz stop sitting on your ass if obama and the other scum try to inpose VAt, start revolution remove the filthy anti american scumbags from our country
It’s unconstitutional. It violates the tenth amendment. Sales tax is state powers. The federal government has never charged sales tax.
Fuck politicians,they are traitors and the sentence for treason is DEATH! Why is O’bummer still alive?
@indigo11274 The VAT affects everyone. That iPad you wanted will be $599 instead of $499.
I love how the VAT discovers a new sourse of energy: ANGER!
How can they do this to us? The gov. truly runs the people. We are the slaves, they are our masters. In the state I live in ALL the politicians are far left. I’ve written, called their offices but they will never want anything other than pure Marxism.
I know of VAT-it will help kill America!
I suggest people to look at more videos about the VAT tax and not just a conservative think-tank like Cato.
Why not tax wealth? I mean not income, but wealth. Let’s take 250000 as the baseline for the net worth, since Mr Obama set it that way. And then let’s just take 2.5% from the wealthy billionaires. Let’s have these elite contribute to the economy. Surely it will generate more money than 5% VAT on consumer spending. If Washington still wants to have her VAT, I am not against VAT on luxury goods though, maybe on any single thing that costs over 50K, such as jets and yachts and such.
@docdrew87 The Goddamn USA is the most un-American country in the world. Isn’t it amazing?
i just can’t believe that the government would add a sales tax to stuff. that’s unamerican
@SigEpIranian So your saying the Facts in the video are wrong? your saying that you know for sure that the nation will drop the federal income tax and replace it with a Vat only..I think your wrong
this would start a war!!