VAT Poll Closed

My VAT poll closed. Exactly half of you so hate the income tax that you were willing to go for the value added tax if it meant that we could scrap the income tax. KT keeps making the point that we need to pay for the size of our government, so additional taxes are necessary because the alternative is eventual default on our debt, with attendant catastrophe. I think that we should try shrink the two decades of growth in government at all levels before we start adding taxes. Ultimately, the efficiency of the tax system matters. The less distortion of normal economic behavior imposed by a tax, the better, because it allows the economy to run most efficiently. In this sense the VAT is the way to go. Right now, we penalize investment and saving, Obamacare's taxation of dividends only making that worse. A VAT taxes consumption, so it would have the salutary effect of encouraging savings. Chances we will get a repeal of the income tax to go with that VAT? Slim.

New Poll - VAT

I have put a poll about the Value Added Tax, since this will be on Obama's agenda in the future. B-Daddy's very short take on the idea of a new tax. Hell No. Now what if we threw in the same bill, the total elimination of the income tax? Now you're talking. Unfortunately, that is unlikely to happen, but I want to hear from the readers anyway. The other drawback of the VAT is that it is even less visible than the income tax and payroll tax, at least I can look at my pay stub and see what those are costing me. The VAT is so well hidden it really allows government to grow, but only when the private sector grows. Since it is simple, it will distort the economy far less than the income tax. Regardless, please take our poll. I'd like to hear from the Coffee Party on this issue, especially in the comment.