Treasury May Discuss National Sales Tax

[Maggie_May]

A U.S. Treasury report on ways to cut corporate taxes will include discussion of a national sales tax, a senior Treasury official told CNBC.

The U.S. currently has no national sales tax, also known as a value added tax, or VAT, though many states do. The tax would be one option to help offset revenue lost from lowering corporate taxes. The report is due in the coming weeks.
The Treasury document is partly an attempt to counter a proposal by Charles Rangel, the Democratic chairman of the House Ways and Means Committee, to cut the corporate rate to 30.5 percent from 35 percent. Rangel’s bill contains proposals to offset his tax cuts with the elimination of special tax breaks for corporations.

http://www.cnbc.com/id/21900018

[no_hypocrisy]

1. I have a better idea: don't lower corporate taxes.

[Warren Stupidity]

2. I have a better idea: raise corporate taxes.

[laconicsax]

6. Even better still:

Eliminate payroll tax cap, lower taxes on middle and lower class incomes and raise them on the upper crust. Cut the Pentagon's budget by a few billion here and there.

[sinkingfeeling]

3. And why, pray tell, do US corporations need another tax cut? When does my tax rate get cut to 30.5%

[Blackhatjack]

4. By all means 'put out the fire by pouring gasoline on it' -- outrageous.

Dems need to put out a campaign ad accusing the Bush Republicans of wanting to increase taxes on working people to benefit corporations.

Wonder how that would work for them?

[postulater]

5. I have a better idea: Tax War Profits