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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: rayvt 🐝  😊 😞
Number: of 15062 
Subject: Re: CBS Interview With Warren
Date: 03/24/2025 10:46 AM
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I believe the US is the only OECD country without a national sales tax or value added tax.

VAT tax rates are 22%-25%

US states sales tax generally ranges between 4% - 7.5%. Many cities & counties also have a smaller local sales tax.

I don't know what is the effective sales tax rate of a 25% VAT.

It is unlikely to be a US Federal sales tax, because of the nature of the US. United STATES of America. I don't think there is any other country that has such a structure.

But never say never when it comes to a government's greed for money.

Seems to me that the beauty (for the government) of a VAT is that it is invisible to the people, so the government can jack it up without people knowing.

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We were on a long cruise and got to be friends with an Australian couple. They toured the US for a couple of weeks before boarding the cruise. They said they were floored when they bought something and the sticker price was less than the rung-up price. They, of course, were used to the tax (VAT) being buried in the price and not used to a separate sales tax.
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