China’s stealth export subsidies being raised

China is increasing its “tax rebates” again to subsidize its exports.  ”Tax rebates” means value added tax (VAT) rebates.  It is a major tool for their penetration of our U.S. market. While most countries establish general levels of consumption - or value added - taxes, China changes all the time…

Posted in China, Tax1 Comment

Clinton (Again) Endorses VAT

Reposted from ******* Clinton (Again) Endorses VAT December 30, 2012 | VATinfo In his new book, “Back to Work: Why We Need Smart Government for a Strong Ecconomy,” Knopf, 11/08/11, President Bill Clinton again calls for (see TV interviews under “Audio/Video”) a shift away from income taxation to a…

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Brian O’Shaughnessy on the VAT

The following is a paper written by Brian O’Shaughnessy, Chairman of Revere Copper Products and CPA’s Co-Chair for Manufacturing.    Using VAT for Jobs, Health and Retirement The media debate about VAT has missed the mark.  Strategically employed, VAT can legally promote and protect domestic production of anything mined, made,…

Posted in Tax7 Comments

US Mills Win Duty Circumvention Case Vs. Chinese Plate

The following is another entry from the AISI’s Daily Media Report. US mills have prevailed in a duty circumvention case against Chinese plate, Steel Business Briefing has learned. The US Department of Commerce (DOC) made the final determination that Chinese companies have been circumventing US antidumping duties of 30-128.59% by…

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Camp Announces Hearing on Tax Reform and Consumption-Based Tax Systems

The following is a Hearing Advisory from the Ways and Means Committee Press Office.  FOR IMMEDIATE RELEASE    July 19, 2011 Jim Billimoria, Michelle Dimarob or Sarah Swinehart    (202) 226-4774 Congressman Dave Camp (R-MI), Chairman of the Committee on Ways and Means, today announced that the Committee will hold a hearing…

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CPA White Paper: How China’s VAT Massively Subsidizes Exports

Edwin Way, a graduate student at Indiana University, is a CPA research intern.  He recently studied China’s strategic use of value added tax rebates (export tax rebates) to gain a competitive, and in our view unfair, advantage in global trade. China spends almost $100 billion per year now subsidizing exports…

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How we pay Chinese taxes. 20% of their government revenue from import taxes

Edwin Way, a graduate student at Indiana University, is a CPA research intern.  He is proficient in Mandarin Chinese, giving him the ability to read and interpret Chinese government data. His article below shows how China finances its government through taxes on imports.  Indeed 20% of the Chinese government’s tax…

Posted in China, Tax1 Comment

The High/Low Tax Debate is Stupid

The high vs. low tax debate is dumb.  How to tax is the better question… including whether to include a consumption tax to improve (a) our trade balance and (b) our consumption vs. production balance. Republican Bruce Bartlett was with the Reagan and Bush administrations. He wrote last week documenting…

Posted in Tax13 Comments

Are Taxes in the U.S. High or Low?

The following article by Bruce Bartlett appeared in the Economix section of The New York Times here. Mr. Bartlett has served as an economic adviser in the White House, the Treasury Department and Congress. Historically, the term “tax rate” has meant the average or effective tax rate — that is,…

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How VAT Trade Zones Can Boost American Manufacturing

The following article by Gilbert B. Kaplan and John C. Taylor appeared at the New America Foundation site here. Exporters of goods from the United States face an enormous disadvantage every time a U.S. product leaves our shores. There is no rebate of the income tax paid with respect to…

Posted in Tax2 Comments

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