sales

  1. S

    Sales taxes are less regressive than flat rated income taxes.

    Sales taxes are less regressive than flat rated income taxes. Due to political and accounting difficulties, methods of calculating net incomes that has or may likely to be enacted into federal tax regulations significantly greater understate taxable incomes of wealthier taxpayers. This remains...
  2. S

    Value Added Tax, (i.e. VAT) a particular and superior sales tax method.

    “Value Added Tax”, (i.e. VAT) is a particular and superior method of administrating a sales tax. Unlike prior (conventional) sales tax methods, VAT never taxes any prior levied taxes carried forward from prior sales transactions. Within a chain of sales links, the tax levied upon the purchaser...
  3. myp

    Iran stops oil sales to France and UK

    Iran has stopped oil sales to France and UK in protest on economic sanctions placed the EU on them for the developing nuclear program. The move comes as UN officials go to Tehran to discuss the program. It is largely a symbolic move as the UK and France don't buy much Iranian oil...
  4. myp

    Overstock follows Amazon in shutting down affiliates in Illinois due to sales tax

    Last month, Amazon cut off its affiliates in Illinois after the state passed a bill that requires online retailers to pay sales tax on purchases made by Il state residents. The bill was passed as the state's fiscal irresponsibility is finally starting to catch up with them. Unfortunately, this...
  5. S

    Value Added Tax, (i.e. VAT); a sales tax method.

    Value Added Tax, (i.e. VAT) Unlike any other sales tax method, VAT does not any manner increase prices by additionally taxing the sales taxes levied within previous sales transactions. For this reason the government?s revenues due to exactly the same rate of taxation is less for VAT and...
  6. myp

    What tax system do you prefer?

    If you were to somehow be able to change the tax system of a country on your own, what system would you want and why? I recently saw this question posed on Reddit (a social bookmarking site for those not familiar with it) and was wondering how everyone here would respond.