Post #8061 by rayvt on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)

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Yeah, except Americans aren't stupid. We've been through this type of thing before.

A VAT would not replace the income tax. We know darn good and well that the VAT would would be in addition to the income tax.

They'd probably say "The income tax will be a flat 2%, and only on the highest incomes." Then each year it would creep up and the income floor would creep down.

Just like it did with the original income tax.

Then there is the complication that each state has its own income tax. Every state is different, including a few which have no income tax at all.

Coordinating federal VAT w/o income tax and 50 states income tax would be a nightmare of complication. Or maybe they'd propose federal VAT and 50 state VATs. Riiiiight.

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