A great interview, the knows what he is talking about.
A VAT would be a great REPLACEMENT of the income tax, but a lousy addition to the income tax. You just know that congress would find all sorts of ways to credit poor people for the tax, probably to the point many would end up with a VAT tax credit( like the "earned" income tax credit now).
The apparent goal right now seems to be not to raise money for the government but to redistribute wealth from the working to the non-working.
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A VAT would be a great REPLACEMENT of the income tax, but a lousy addition to the income tax. You just know that congress would find all sorts of ways to credit poor people for the tax, probably to the point many would end up with a VAT tax credit( like the "earned" income tax credit now).
The apparent goal right now seems to be not to raise money for the government but to redistribute wealth from the working to the non-working.