Would a VAT help lower the debt? [View All]

[Peacetrain]

I was reading an article in one of those little magazine they put in your Sunday paper about how other countries use a VAT (Value Added Tax) to pay for things.

Would a VAT work for the United States if we exempted groceries and pharmaceuticals that would unfairly target the poor, and products businesses that employ people need to keep running?

The gist of the article seemed to be against it because it would give the congress too much money and then we would have more social programs.

Just curious from those who may have looked into this deeper.

I am for lowering the debt.. and I am for raising the caps on Social Security.

If other countries are using these types of optional choice taxes (not SS, I realize that)to balance their books, would it work here?


This is a Wiki explanation of VAT
http://en.wikipedia.org/wiki/Value_added_tax