Value Added Tax(Vat) In The United States: Tax Policy Reasons And Aspects

VAT in the United StatesStudent’s First Name, Middle Initial(s), Last NameInstitutional AffiliationCourse Number and NameInstructors Name and TitleAssignment Due Date AbstractThis paper covers the mechanism of VAT in the United States and demonstrates the vital issues regarding the design of taxation, tax policy development, implementation, and policy implications. It consists of eight sections. Section one introduces the general topic. Section two contains the rationale of VAT, including its definition and explanation. Section three delves into VAT in the United States, including its history, current status, tax policy, and insights into why the U.S. is the only OECD member state that does not apply the VAT system. Section four handles VAT outside of the U.S., focusing on the VAT status in other OECD countries. Section Five delves into the proponents of VAT in the U.S., including various scholars' theories and tax policy reasons behind their arguments. Section Six is about the opponents of VAT in the U.S., including different scholars' theories and tax policy reasons behind their contention. Section Seven discusses possible tax policy issues regarding the VAT, while Section Eight offers an overall conclusion. <w:br