BoatBanter.com - View Single Post - About tax rates and Universal Health care

iBoaterer[_2_]

In article ,
says...

On Tue, 17 Apr 2012 09:23:46 -0400, iBoaterer wrote:

You really need to find out what a VAT tax is. It has nothing to do
with personal property taxes. It is a tax based on the markup every
time someone manufactures or handles a product from the mine where the
ore comes from to the product you end up buying, a new tax, every step
along the way.
Governments like it because it is a hidden tax buried in the price, so
they can still add a sales tax when you buy it and a property tax as
long as you own it if they like.

I'm fully aware what a VAT tax is and I never said anything about
personal property tax. Neither does Ad Valorem.

Ad Valorem (in latin it means "according to value") taxes are
personal property taxes. In this case the property is your car but
other states extend that to any asset they can find to tax. Most have
taxes on real estate.
It is still not a VAT tax.

They both are consumption based taxes, period.

VAT is a consumption tax.
Ad Valorem taxes are not. They come after you every year for ad
valorem taxes for things you already own and you didn't consume
anything.
Nothing new was created except the bureaucracy your taxes support

Here you go:

http://en.wikipedia.org/wiki/Ad_valorem_tax