VAT Explained

[AladdinSE]

The narrator's jokes are silly and distracting. The chart he's holding up is useless as it is too small and completely illegible to the viewers. Bad example as bread is not taxed in most states!

[PhotoShopChannel]

@JimHanesTV What is this? VAT free stuff?

[0uncouthness0]

im confused if something cost 13 english pounds from a wholesale clothing website what would the vat be ? would i get charged a lot of vat ? who pays the vat is it me or the wholesaler ?

[HOODYWOODRECORDS]

Lol! He was checking out her tits:-) I aint mad at em (I was doing the same) she's a hottie

[cyborggoat]

Nice explanation. Thanks!

[will1977a]

Total craziness. "The vat will cause people to buy more knowing that this year it is 5% and next year it will be 10%, then go on from there". So the theory is to add 5% each year to get people to spend money now in anticipation of higher prices next year? Obviously this guy doesn't live paycheck to paycheck like many Americans. And exactly what grocery store is out there not charging sales tax? Undergound black market for bread and bananas? This guy is a lunatic.

[tonyg0123]

"cut taxes and raise spending during the recession"??? overspending is why we got in this mess. What we American's need to start doing is saving and investing in capital. Capital that produces manufactured goods, not services ...so that we can shrink and eventually eliminate our trade deficits with countries like China. Stimulus and bailouts and all this massive spending from government only prolong the recession and deepen it. It's like pouring gasoline on the fire.

[stonerj0e]

if they implemented vat, they would squander it just like everything else !

[cjellwood]

collect it in stages from the producer so the final consumer has no choice but to pay it lol There is actually no obligation for a consumer to pay VAT, they are forced to pay it

[LoverOfMtnDew]

Sounds like a lot of tax, more tax, and of course more taxes.

[spunright]

A socialists mind when given the option of cut spending or increase taxes always chooses the latter. To each according...from each...

[SamFreedom]

it can't solve the nations dilemmas... it hammers the poor & middle class. the nations grandchildren are ALREADY sold into fiscal slavery. The VAT tax is going to cause the COST, and the price, of all essentials to go up.

This video also fails to mention that farmers are ALREADY struggling & receiving subsidies. this guy doesn't just explain VAT. he unwittingly describes the VAT as a CRIME PREVENTION tax, implying that your grocer is cheating. Therefore, tax everyone at every step of the way!

[MGEloop22]

This will be an additional tax. It wont replace income tax or state sales tax. It all goes to the federal government, not local or state.

So we are supposed to let them tax us even more and trust that this time it'll be spent on something that helps us.

.Hears and idea...how bout more taxing on tobacco/booze/fast food, so those asses that have unhealthy habits and will need lots of health care have to pay for it.

[miazagora]

The CATO Institute has a better video entitled "The Value Added Tax: A Hidden New Tax to Finance Much Bigger Government"

[miazagora]

Feeding BIG govt more money is not going to make it smaller! Govt needs to do what the people are doing and CUT SPENDING! Cut-cut-cut until the budget is balanced! Don't want to cut Medicare or Social Security? Cut things we do not need right now - like *the arts* and museums and airports in the middle of nowhere (Murtha).

[ThunderAppeal]

I can see why len burman is doing 'non for profit' work, he's a moron the man is a socially inept shelmazel. His parents were probably communist sympathizers from eastern eurpean shtetls. The only reason a pile of dog shit like this guy would want to increas taxes is to fund this so-called 'non-for profit' urbaninstitute.

[ThunderAppeal]

Oh look at this, a bunch of bottom feeder community organizers who couldnt hack it in bottom feeding government work. Idiot shlemazels who cant get idiot work doing government work become idiot special interest community organizers like you people.

[specialchannel]

the second he said that the tax will keep going up and we will be PAYING FOR GOVERNMENT !!! then i was like Fuck no to the vat

[jbmontag]

Most countries that use the VAT system, namely every trading partner we have, give a percentage collected to local governments.

[miazagora]

@jbmontag So? Why do local communities need the federal government to rob the citizens and give the money to them? Why can't local communities decide how much money they need and charge local taxes like they always do? You can't tell me it's because the federal government does so well with managing money.

[jbmontag]

@miazagora I'm for a VAT system. If it is feasible for local municipalities collecting the tax, even better.

[miazagora]

@jbmontag So? I'm against it.  A VAT ON TOP OF sales tax and every other tax we pay on every single thing we buy is going to make everything even more expensive - including things we need, like food and clothing. Does that make sense during a recession? No. But nothing Obumble and company have done make much sense.

[jbmontag]

@miazagora A VAT would actually replace any sales tax. I would like to see a VAT phase out the income tax.

[miazagora]

@jbmontag Not in this administration. No, jb, the current VAT is being discussed IN ADDITION TO income tax/sales tax. There are no plans to cut taxes that I am aware of - and they would certainly not stop taxing income.

[spunright]

@miazagora Of course not the country is bankrupt. This talk about a VAT is because the US credit rating is about to collapse and they know it. We are heading toward banana republic status very quickly.

[Boomer1949]

Will the VAT tax replace states sale taxes?

[miazagora]

@Boomer1949 No - it will be on top of sales tax.  The guy in the video is talking about a VAT of only 10%. In Europe it's around 25%.

[Txman1996]

Great Explanation. You forgot to point out what this tax really is. However, I am here to help. This is another step in the direction of socialism. Tax us, the consumers, while the banks continue to pillage us for everything. What a sham. Of course, look at the sheeple in the video. Yeah, we don't need more social programs, nor do we need to be like Europe. I got a great idea. How 'bout streamlining Congress and securing our fucking borders.

[miazagora]

@Txman1996  Preach it, brother!