Re: Lebanon's Public Debt - Background


The current malaise stems not so much from Siniora's tax increase, than from
the type of tax that is increased. Insofar as Lebanese businesses can shift
the burden of the VAT to low and middle income consumers, it is regressive.
Undoubtedly, a 15% VAT would fall heavily on the poor and middle class.

To reduce the public debt, Lebanon has two realistic options:

1. Cut back on public services.
2. Abolish the VAT in favor of a progressive income tax levied on high
income businesses and individuals.

The Lebanese opposition should move expeditiously on fiscal reforms, lest it
lose ground to Syrian loyalists.

Richard


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Relevant Pages

  • Re: Tax doesnt have to be taxing.
    ... >> which was merely a tax allowance. ... > What's the difference compared with a tax allowance combined with our ... Then *all* other income is charged at a flat rate of tax. ... How exactly is VAT ...
    (uk.media.tv.misc)
  • Re: Tax doesnt have to be taxing.
    ... >>> A flat rate tax system combined with a payable allowance (Citizen's ... >>> income) would benefit the poor more than the rich, ... > I've often heard this rubbish that VAT is regressive. ...
    (uk.media.tv.misc)
  • Re: Cameron - Very nervous on Sky TV and drinking heavily
    ... over 10% of gross income from many people. ... Or reform the distribution means of the total tax burden? ... No more so than VAT. ... So does that need reforming into something else ...
    (uk.politics.misc)
  • Re: Cameron - Very nervous on Sky TV and drinking heavily
    ... over 10% of gross income from many people. ... Or reform the distribution means of the total tax burden? ... No more so than VAT. ... So does that need reforming into something else ...
    (uk.politics.misc)
  • Re: Maybe the Birthers are wrong
    ... Well, I read your link, and none of the "tax cuts" which were pointed ... interest and SS, income below AMT requrements, etc. ... I'm in favor of a VAT ... Andy in Eureka, Texas ...
    (soc.retirement)