Sunday, March 27, 2005

Is The "Old Tax System" making its way to the United States?

The United States is one of the only countries left in the world who does not follow the Hybrid Tax Code with a tax on income and a sales tax better known as value added tax. The value added tax is basically like our sales tax but instead of them charging one tax when the item is purchased, it is being taxed throughout production. This system keeps people from cheating on the tax because the government can track and document it throughout the production. Although this system may seem like a good idea President Bush thinks otherwise. He wants a system that will benefit all people and still bring in 2 trillion dollars every year in taxes alone. What do you think about this new tax idea? Do you think it will make taxes easier or harder on people and will it bring in more money than before?

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