How the GOP's simplified Border Adjustment Tax will be instantly riddled with loopholes
by Cory Doctorow from on (#2F6SY)
The GOP is advocating for a "Border Adjustment Tax," which is something like a complicated Value Added Tax that is meant to encourage companies to on-shore or re-shore their manufacturing, without raising prices for Americans (because the US dollar is supposed to rise by up to 25% (!) as a result), while removing the complexity that allows companies to dodge tax by finding loopholes. (more")