From VAT to the Golden Gate & then to space? Bye bye UK; Hello USA.
Virgin Atlantic’s Space Ship II has joined Space Ship I in California.
The VAT destroys business like no other tax. It seizes working capital required for growth.
Oh, yes California is anti business and high income. But nothing destroys working capital like the Value Added Tax. Imagine borrowing half a billion dollars to build a new spaceship. Then you find out that just to have the right to build the spaceship you owe $100 million tax. Now, the bank wants security. It was hard to get the bank to OK a space ship as security, but what is the security for the taxes you gave to Inland Revenue (the English’s IRS).
California and the USA has no VAT. California also has no sales tax for most research and development programs.
msnbc.msn.com reports the following:
“A new Virgin America A320 jet, aptly named “My Other Ride Is a Spaceship,” flies in tandem with the SpaceShipTwo rocket plane and its mothership over the Golden Gate Bridge on April 6. The aircraft landed at San Francisco International Airport, becoming the first planes to arrive at the new $388 million, 640,000-square-foot TerminalSpaceShipTwo is expected to begin rocket-powered suborbital test flights sometime in the next year – not from San Francisco, but from the Mojave Air and Space Port near Los Angeles. (Mark Greenberg / Virgin America) Share
Ready for testing
Onlookers inspect the back end of the mated WhiteKnightTwo and SpaceShipTwo planes at the Mojave Air and Space Port during the rocket plane’s Dec. 7 unveiling. The eight-person SpaceShipOne, which was christened the VSS Enterprise, is the first of a series of space planes due to start commercial service in the 2011-2012 time frame. Tests of the rocket plane were to begin within days of the unveiling. (David McNew / Getty Images).”