Why? Because we need the tax policy equivalent of Law & Order: SVU.
“We need something that is very far-reaching, very dramatic,” said Ross, the head of W.L. Ross & Co. “An idea I’ve been in favor of is to scrap all of the corporate income taxes, all of the individual income taxes, and substitute a value-added tax on all goods imported into the country and manufactured and consumed here, and then rebate it on exports.”
Oh and that jobs bill? It’s bupkis:
“The amount being put in relative to that plan, compared to the jobs they say it will produce, is way out of whack,” Ross said.
Implement VAT, Cut All Income Taxes to Create Jobs: Ross [CNBC]
The most noteworthy and damning moment of the GOP debate in Iowa Thursday was when the moderators asked the candidates to raise their hands if they would walk away from a deal that cut ten dollars from the deficit for every one dollar in tax increases. Every last person on stage said they’d reject that deal. [