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Obama's Value Added Tax (VAT) on All American Goods

submitted by blankfist

1 decade 4 years 11 months ago

VAT is value added tax, or national sales tax, on all items bought and sold in the US. For example, in the furniture industry the wood would be taxed when it's sold to the manufacturer, it would then be taxed again whenever it ships, taxed again when sold to distributors and lastly taxed again when sold to retailers.

That's a lot of tax.

3 Comments

demon_ix

says...

In Israel, the VAT is 15-16%. Keeps changing every year or two.

Dunno why they complain that the tax is included in the price however... Whenever I was in the US I kept forgetting to add the whatever-the-local-tax amount to the written price and it annoys me.