Going to Bat for a VAT


‘To solve the impending Social Security and Medicare crisis, a VAT would serve a broader social purpose: To collect revenues from two generations that failed to fix the fiscal deficits before they started collecting from these underfunded systems. Retirees don’t pay much in payroll taxes, but they would pay a VAT on their consumption. Younger generations who will inherit their elders’ Social Security and Medicare deficits will consider it more equitable that everybody pays into the solution.”

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