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Mitt “Herbert Walker” Romney and a new Value Appropriated Tax? RINO = VAT.

2011/12/26

BOHICA.

Tip o’ the hat to William A. Jacobson.

. . .

RINO = Value Abducted Tax.

RINO = Value Appropriated Tax.

RINO = Value Ablated Tax.

RINO = Vacuously Asinine Tax.

. . .

[I’d tell you how I really feel, but this *is* a family show. – Ed.]

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4 Comments leave one →
  1. 2011/12/29 07:37

    Living in Portugal, I can attest to the economy-crushing attributes of value-added taxes. They’re great for growing governments and black markets, but terrible for businesses and consumers.

    • 2011/12/29 16:08

      Ditto my experience from Canada.

      For those unfamiliar with how a VAT grows government and black-market, here’s the thing: “Corporate” taxes are also a form of consumption tax, a “production” tax if you will that is built into the cost of the product. Unseen, it’s psychological effect is lessened.

      When one gets hit again (after having paid “income” taxes etc.) with an additional new tax, resentment sets-in. VAT’s are a no-win: After the first business cycle, all of those revenues have got to be pulled from the resource pool elsewhere.

      What the VAT does generate are two things: A growth in bureaucracy and policing to maintain the tax and, as noted, the black market tendency to obtain the product or service in a maner o avoid the tax.

      . . .

      We don’t need 59 tweaks to an already bad tax code. We need to massively reduce “entitlement” spending, bureaucratic cost, size and regulation and a radical overhaul of the present tax code. I’d be happier with a flat tax or a pure consumption tax that replaced all income and corporate taxes. If Romney wants to be taken seriously by the Right, he has so many better options.

  2. 2011/12/30 18:11

    My suggestion for the new income-tax form:

    How much did you make this year?

    Send us 10%.

    Thank you.

    • 2011/12/30 18:24

      Happy New Year, Steven!

      Heh. Amen to that… Ray Stevens pointed out that “if 10% was good e-nough for Je-e-sus… Well, it ought to be e-nough for Uncle Sam!

      I’d be satisfied with a pure consumption tax of 10% if the “income” penalty was eliminated.

      Cheers!

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