How Would Cardin's VAT Affect Social Security Recipients?
6 Pages Posted: 6 Jan 2016
Date Written: November 2, 2015
On December 11, 2014, Senate Finance Committee member Benjamin L. Cardin, D-Md., introduced S. 3005, the Progressive Consumption Tax Act of 2014, which calls for the adoption of a 10 percent VAT. The adoption of a VAT would have far-reaching effects on the economy, including the Social Security program.
Keywords: Value added tax, Social Security
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