October 13, 2008 |
Economic anxieties caused in part by the West's financial crisis have escalated tensions between President Mahmoud Ahmadinejad's government and Iran's merchants as the country's economic lifeblood, oil, headed below $80 a barrel for the first time in more than a year.
November 21, 2007 |
The U.S. Treasury on Tuesday wouldn't comment on a report that it will float the idea of a value-added tax as an option to pay for reduced corporate income taxes. A report due soon from the Treasury discussing ways to make the U.S. business tax structure more competitive will include a VAT, or national sales tax, CNBC reported, citing an unnamed Treasury official.
September 4, 2004
Re "A New Money Machine for the U.S.," Opinion, Aug. 29: Bruce Bartlett argues in favor of a value-added tax as a solution to the projected increase in Social Security, Medicare and Medicaid spending. Federal Reserve Chairman Alan Greenspan has a better idea. Avoid the need for increased transfer payments by increasing the retirement age to 70 and up as life expectancy increases. Death rates for males 65 to 74 have dropped 31% from 1960 to 1989 and are still decreasing. And why adopt a European creature, the VAT, needed to fund its common-market government?
August 29, 2004 |
The United States needs to adopt a value-added tax. Passage of the prescription drug legislation last year demonstrated that there is no longer any hope of holding the line on government growth -- especially when Republicans voted for the multitrillion-dollar entitlement program. That being the case, the only relevant question is how to finance the growth of government. A value-added tax, or VAT, isn't the complete answer. Other taxes are also going to rise.
February 3, 2002 |
A few days ago, I tried to do something that used to be quite simple--I requested a restaurant receipt so I could deduct a business lunch on my Mexican income-tax return. A bureaucratic nightmare then began. I was asked by the restaurant to provide a copy of my Mexican Federal Income Registration. I offered the one I always carry in my wallet but was told I would need a photocopy, as the restaurant would need to keep a copy. I was also asked to provide a signed letter swearing that I would indeed deduct the business lunch from my taxes--or be subject to an unspecified penalty.
CALIFORNIA | LOCAL
October 11, 1997
Rep. Dick Armey (R-Texas) and Rep. Billy Tauzin's (R-La.) commentary, "Should We Scrap the System . . ." (Oct. 5), fails to emphasize a most fundamental issue in the debate between the present progressive income tax and the alternatives of flat tax and sales tax. The current tax and the flat tax will always favor the rich because they only tax "taxable income." It is true that the rich pay taxes at a higher rate than others, but they only do so on their taxable income, which is usually an extremely small portion of their total income.