Taxation

Value Added Tax (VAT), National Sales Tax (NST), Flat Tax, Transaction Tax (CongressionalGlossary.com)

Dissatisfaction with the federal tax system has led to a debate about U.S. tax reform, including proposals for a national consumption tax. One type of proposed consumption tax is a value-added tax (VAT), widely used around the world. A VAT is levied on the difference between a business’s sales and its purchases of goods and … Read more

The Constitution of the United States: Amendment 16 (Sixteenth Amendment – Income Tax)

The Constitution of the United States: Amendment 16 (16th Amendment) Amendment XVI. (Income Tax) Passed by Congress July 2, 1909. Ratified February 3, 1913. Note: Article I, section 9, of the Constitution was modified by amendment 16. The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment … Read more