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The Value-Added Tax: An Analysis on Prospective Implementation in the United States

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The Value-Added Tax (VAT) is a broad based consumption tax on goods and services. Similar to a Retail Sales Tax, the VAT has the final burden of the tax fall

The Value-Added Tax (VAT) is a broad based consumption tax on goods and services. Similar to a Retail Sales Tax, the VAT has the final burden of the tax fall on the end consumer. However, the tax is collected throughout stages of production, which means the government collects it sooner and the retailer is not the only company remitting tax to the government. As of this writing, the VAT is used in over 150 countries around the world. The United States is the only developed nation that does not have a federal VAT. While there are several plans for VAT implementation in the U.S., one of the more promising is the Competitive Tax Plan by Michael Graetz. In it, Graetz suggests a 10 to 14 percent VAT in order to pay for reduction in corporate income tax and an increase of the individual tax filing thresholds to $50,000 for single taxpayers and $100,000 for married taxpayers. As the nation goes further into debt, it is important that the United States looks for alternative sources of revenue. A VAT could prove to be the best option, as it is a proven solution used by many other nations.

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  • 2017-05

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Arizona's Struggle to Conform or Not to Conform to the Tax Cuts and Jobs Act of 2017 and The Impact of the New Provision on Arizona Taxpayers

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This paper takes a comprehensive approach to evaluate Arizona’s conformity process after the passage of TCJA in December 2017.

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  • 2020-05