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 Vat1614a V2 Form 2020

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hello everyone I'm Rachel Johnson and I'm here again with Len Burman director of tax policy Center here to talk to him about the vat tax I hear you trying to raise our taxes what's up with that well actually I'm trying to cut your taxes right because you know if we don't get our act together we're going to leave you and your children and grandchildren with enormous debts and it'll the economy and you'll have to pay really really high taxes so I think that's a bad thing so what exactly is a vat and how does it differ than just a glorified sales tax what actually is a glorified sales tax so a bad is like a sales tax except it's collected it's in stages from each producer so let's take an example we have a $2 loaf of bread uh which you can buy at the Giant and a bread bread as you know is not it's not produced by the people at the giant they sell it but every everyone along the way is p

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