Will the U.S. have a VAT?

[Don M.]

With all the money our government is flinging at this CV-19 epidemic, and the substantial increases to our National Debt, is it just a question of time before the U.S. institutes a VAT...Value Added Tax....similar to what other nations have had to resort to????

I suspect that day is coming....and not too many months after this virus is brought under control, and our government realizes that it is going to Have To find some source of revenue to pay for all this excessive spending.

 

[Aunt Bea]

I would be fine with a tax on consumption like a VAT as opposed to a tax on income.

We definitely need to stop living on Uncle Sam's credit cards and start paying our way for the things that we expect our government to provide.

 

[jujube]

When I was a young'un, there was a "luxury tax" sort of thing on jewelry, wallets, cosmetics, etc. I can't remember whether we had a sales tax back then and this was on top of that or whether there was only the luxury tax.

 

[Em in Ohio]

When I was a young'un, there was a "luxury tax" sort of thing on jewelry, wallets, cosmetics, etc. I can't remember whether we had a sales tax back then and this was on top of that or whether there was only the luxury tax.

I would much favor a luxury tax over a sales tax on actual necessities. As to the value-added tax - isn't that just a chain reaction with more companies getting a piece of the pie - and raising the prices artificially high for the end consumer?