Page A25: VAT(Value Added Tax) may be a substitute for the US income tax as all the European Union have such huge VATs such as Germany, France,Italy and Scandinavia.
VAT may be found on page 177 in "Keys for Economic Understanding"(1971)www.Amazon.com book catalog for info
It will take a while to break the American populace to that idea. China was receptive to such in 1994. Here is the common ground for Sino-American Economics.
Professor Yan Xuetong of Tsinghua University published a book to connect China's aspirations to Confucianism with the approving blurb from Henry Kissinger. Such idea may be found in the thesis for a graduate degree at Georgetown University in 1950. Maryknolls,New York published in Jan. and Feb. issues in 1951. Such vision is to be noted here. A student of economics is expected to have a vision to be materialized after several decades. Cf. First Nobel Laureate Tinbergen's "Convergence Theory" in 1969 to be evidence in China's reforms and Economist Joseph Schumpeter's statement about Socialism in the 1940s at Harvard,quoted by Harvard economics professor Richard T. Gill in his textbooks in 1973, 1975.Search Richard T. Gill at www.Google.com for reference.
Adam Smith was a moral philosopher to share the views about ethics and morality in foreign policy. Here is the meeting ground of Sino-American Economics of Human Behavior.
Francis Shieh, March 26, 2010 at 11.10 .m.