From a recent interview:
I think they ought to look at a progressive value-added tax, just because--and I think it's important the American people understand this--most of our competitors have tax systems like this. If you have a value-added tax, you put a little revenue to the collector, you lower the income taxes, corporate and personal, and you put a little revenue collector on every stage of sales in a product or service, but if it is exported, you don't pay the last price. It's exempt from the value-added tax. And when a foreign good comes into this country, they do pay the last stage of the value-added tax. So when we export American products to countries with VAT taxes, our products pay that even though our corporations have already paid an income tax, already paid whatever other burdens. So if we could figure out how to do that, it would make us much more competitive with our exports. And since I believe this cleansing process, this awful process we've just been through gives a great chance to bring manufacturing back in America, I'd like to see that looked at.
