Political Parties Stance On VAT

The Republican. Democratic overview

Republican side:

Republicans have tended to support the value added tax policy. Their belief is that this nation needs a more consistent way of filtering money for the economy. They recently had a new tax plan proposal that was included in Paul Ryan's "roadmap" scheme. Mitt Romney also stated a few words on this new tax policy. The value added tax would provide an excellent source of revenue that could potentially help this country as it has helped other countries around the world. Europe is a perfect example of how this tax could help maintain inflation at the minimum as well as helping the nation come out of a recession. I propose that we install this new plan into effect as soon as we want to get the economy up and running. As a whole, Republicans seem to have control over this issue and support it all the way, believing it will help the economy.

Democratic

On the other hand, the Democrats believe that this issue isn't such a good idea after all. "Obama has said he thinks value-added taxes are something that has worked for other countries.' " The democratic view point on this is simply that the tax is not needed for our country although it has worked in the past for other nations.The value added tax would only be another noneffective way to try helping this nation. The inflation rate would be incredibly high as was as the federal debt from all the loans we would have to borrow from out neighboring countries. Out of all the countries who have tried this method, not one has succeeded, and most of them are experiencing high debt. I propose that we do not allow this deficit, this plan should not be put in place. It won't be good in the long run and our citizens, as well as our nation, will be in debt.