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Americans For Prosperity Americans for Prosperity (AFP) and Americans for Prosperity Foundation (AFP Foundation) are committed to educating citizens about economic policy and mobilizing those citizens as advocates in the public policy process. AFP is an organization of grassroots leaders who engage citizens in the name of limited government and free markets on the local, state and federal levels. The grassroots members of AFP advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint.

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BAT Is BAD for Retail

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Old 05.18.17, 04:26 AM
@AFPhq @AFPhq is offline
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BAT Is BAD for Retail

05.17.17 01:10 PM

Retail provides one out of every eight private sector jobs in the country, but a new tax could soon decimate the entire industry and put these millions of jobs in jeopardy. The new BAT consumer tax, included in House of Representatives’ tax reform plan, would impose a 20 percent tax on all goods imported into the United States. Since retail relies heavily on imported goods and operates with slim profit margins, this giant tax could be a death sentence for the already struggling industry. A new report released by Americans for Prosperity and Freedom Partners lays out a nightmare scenario that could become all too familiar if the BAT is put into effect: [A retailer] buys a pair of shoes from the manufacturer for $50 and pays $10 in shipping costs. The retailer then sells the shoes for $70, earning a $10 profit…Under the proposed tax reform plan with a border adjustment tax, the retailer would pay 20 percent tax on the $10 profit, or $2. However, the retailer would also pay a 20 percent BAT on the $50 cost of the imported shoes, bringing the total tax bill to $12—which is more than the retailer’s profit from the sale. […]

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