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— T.R. Reid"The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade. So it makes the job of raising revenue easier. The revenues from the VAT can then be used to lower taxes on income and saving and investment. The Value-Added tax doesn't penalize work or saving; it's a tax on buying stuff."
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New investments in cyber security and the modernization of our military will spur substantial new job creation in the private sector and help create the jobs and technologies of tomorrow. It's what we have to do. America must be the world's dominant technological powerhouse of the twenty-first century, and young Americans - including in our inner cities - should get these new jobs!
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I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
— T.R. Reid
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