Tag Archives: Business Transfer Tax

An Enemy of Income Tax Reform: The “Business Transfer Tax” (a/k/a “Business Activity Tax” and “Business Flat Tax”)

The “Business-Transfer Tax” in all its forms is a proposal for a dual-tax system, to have a value-added tax built upon a rejiggered income tax. This second tax comes disguised as income-tax reform with the VAT label avoided. Sad to say this ill-conceived proposal amounts to a cover-up and remedy for the failure of U.S. trade negotiators to insist that VAT nations abide by the principles of free trade. But, two wrongs don’t make a right. As an enemy of real income-tax reform, it would make the income tax even more disjointed and difficult to unscramble into a simple, tax-neutral, low-rate income tax. Continue reading

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