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November 2016

160 countries levy a national consumption tax and the U.S. (we) are the only country in the OECD that does not. 1 The past 8 years of federal deficits plus the projected deficits over the next 25 years have raised concern about how long we can continue deficit spending and still avoid a fiscal crisis. Are we ready for a serious debate about an overhaul of our tax system before the window of opportunity closes?

Original published on: https://www.picpa.org/articles/journal-articles/article/2016/11/28/can-a-value-added-tax-put-our-debt-in-order

Download – A U.S. VAT: IT’S PROBABLY INEVITABLE

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