In January my colleague Clay Waters noted how New York Times economics
reporter Eduardo Porter called for Americans to pony up more in taxes in
a piece headlined, "A Tax Bite Tailored To Help All." Porter is back at it again today in a Business Day section front-pager headlined, "The Trouble With Taxing Corporations." "We have a tax problem; we are not collecting enough tax revenue --
period," Porter approvingly quoted the University of Michigan's Jim
Hines, who whined, "we are never going to finance what we need with
corporate taxes." Picking up on this thread, Porter lamented that the
United States is "the only advanced nation that does not have a
value-added tax, which is similar to a sales tax and can raise lots of
revenue." Apparently the $2.5 trillion raised in federal revenue each
year just can't cut it, according to Porter and Hines.
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