OT: WA to drown US in VAT

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• THAT is *EXACTLY* what i said!!!!!!!

• Not quite; the tax is on what the FED _says_ has been added.. I buy something, do nothing with it and re-sell it; the TAX IS OWED on the (zero) vale added, to the NON-ZERO "value" the FED determines. Argue with the IRS on that one!

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• THAT is WHAT i said!!!

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No, it is *not*.

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*WRONG* It's a tax on price_sold-cost_of_materials_bought. The FED doesn't tell you what either are. Learn to think. D

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Don't lie. You said there wouldn't be any rebate, thus the tax would be on the entire sales amount; a "gross receipts tax".

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Now who is the liar? Yes, i said there would be no rebate, but I SAID NOTHING regarding the "entire sales amount"; in fact, i said the tax would be on the "added value". If for some reason there was no factual value added, the FED would tax anyway - and that means they would indeed determine a fictional value.

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*You* are.

You clearly can't read. The *rebate* is how the VAT is administered, you adamantly claim there will be no rebate. If the (tax on the) cost isn't rebated somehow it can't be a VAT. You're a liar, plain and simple.

You're a liar. The tax would be zero, since any tax paid (and rebated) on the gazinta would cancel any tax owed on the gazouta. I doubt they would allow a negative tax on a loss, however.