Re: Classification Table

[Bruce McFarling <brmcf@xxxxxxxxxxxxxx>]

On Tue, 28 Feb 1995, John Gelles wrote:

> 	... I see vat as favoring people and preventing any
> 	person from being poor -- my idea of vat is that it
>	falls only on non essential items and is used only
> 	to fight inflation.

	? Where is VAT on "non-essential" items only?  The VAT
that the economists from the U.S. talked Grenada into was
*of course* on food, otherwise too much of spending would
have escaped taxation.  And how is it going to be used 'only'
to fight inflation: is it all going to go to retiring government
debt? I don't follow the mechanism.

Virtually,

Bruce McFarling, Knoxville
brmcf@xxxxxxxxxxxxxx