sales tax

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sales tax,

levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. It may be levied each time a commodity changes hands—as from manufacturer to wholesaler, from wholesaler to retailer—and is then called a transactions, or turnover, tax. Many oppose the tax as being regressive, i.e., as placing a disproportionately heavy burden on the poor; but it yields a large revenue, and governments find it easy to collect. As of 1999, 45 states, the District of Columbia, a number of cities and counties, and many foreign countries levied sales taxes. A modern variant of the sales tax is the value-added taxvalue-added tax
(VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level.
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References in periodicals archive ?
And now, with the federal government deeper in debt than ever before, a national sales tax is getting another look as a possible way to raise money to pay for the trillions of dollars in debt and for national health care coverage.
How might a national sales tax operate in conjunction with a state sales tax when the tax bases would differ?
A simple example can illustrate the similarity of a national sales tax and a VAT.
This could be done by establishing either a national sales tax or a value-added tax (VAT), which could replace all income taxes imposed on both corporations and individuals.
The president has talked about having some type of national sales tax or flat tax--consider "biting the bullet now" while capital gains rates are the lowest in his 40-year career.
businessmen understand the benefits of a National Sales Tax.
While I recognize that the authors of this book represent a consensus around a tax credit approach, I would have been interested in the viewpoint of those who have supported alternative tax policy such as replacing the current income tax and its various exclusions and deductions with a flat income tax with no exclusions or deductions, or a national sales tax (even though these are not politically feasible at this time).
The National Retail Federation, feeling slighted, wants a level playing field and is still propounding the same arguments from many years ago when a strong effort was made to persuade Congress to pass a national sales tax.
In national debates over reforming the federal income tax system, a commonly suggested remedy is to simply eliminate the federal income tax and replace it with a national sales tax.
The ad, placed by an organization called Americans for Fair Taxation, advocated a national sales tax to replace our current federal income tax.
Ernest Hollings (D-SC) wants to override Cox's act and institute a national sales tax on Internet and catalog sales.

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