White House studying carbon tax, value-added tax: report

[applegrove]

BY NAOMI JAGODA at the Hill

http://thehill.com/policy/finance/327226-white-house-studying-carbon-tax-and-vat-report

SNIP............

The White House is looking at the possibilities of creating a carbon tax and a value-added tax as part of tax reform, The Washington Post reported Tuesday.

The report comes as President Trump and congressional Republicans work toward passing tax-reform legislation this year. White House press secretary Sean Spicer said last week that the administration is in the "first stages" of tax-reform planning.

The Post's report cites administration officials and "one other person briefed on the process." Administration officials told the Post that no final decisions have been made about whether a value-added tax or a carbon tax would be included in a tax-reform plan.

Trump will need to come up with ways to raise revenue if he wants to lower tax rates without adding to the deficit. House Republicans have proposed raising revenue through a tax on imports known as border adjustment, but that proposal is opposed by a number of GOP senators.


.............SNIP

[WinkyDink]

1. National sales tax, aka VAT, raises costs, but the rich don't care (duh---proposed by Republicans).

[roamer65]

3. VAT is more than just a sales tax.

A percentage tax is applied not just at the retail end, but at the wholesale levels as well.

Businesses will have much more tax bureaucracy to deal with if a European-type VAT is adopted. A VAT is an administrative nightmare. I am not in favor of a national sales tax either, unless it is specifically earmarked for Medicare for All.

Income taxes should be raised much higher for anyone making over $500k a year, instead of adopting a VAT.

[WinkyDink]

4. AMEN.

[Freethinker65]

2. Not "studying", trying to figure out which tax scheme provides the most benefits to themselves