> Warren Buffett Blog: Border adjustment tax is essentially a Sales Tax

Wednesday, March 15, 2017

Border adjustment tax is essentially a Sales Tax

Border adjustment tax, I mean, it's an import tax, and an import tax is a sales tax. You're looking – we're here at the Nebraska Furniture Mart. This store is in several buildings, does over $400 million a year; 75 percent of what you see is imported. I mean, if we pay an import tax on it, our customers are going to pay for it. It's a sales tax, and it's a sales tax, in this case, on items that are not yachts or anything like that. They're things that the ordinary person buys. So it would be a big sales tax. I think the president said initially that it was – it'd be too confusing or too complicated or something of the sort.