Media Power in Politics

[Bond]

Mind explaining this cascading tax system a bit more? I tried to google it, but there doesn't seem to be much information on the internet. If I'm right, basically products were taxed at each stage of their life cycle? And the harmonized tax is basically a value-added tax, where only the value-added at each stage in the development process is taxed?

If that's the case,

Cascading tax = No sense

Harmonized tax = Some sense