VAT’s my problem?
Actually, the VAT is my problem, leastwise is some of the president’s “yes-men” get their way.
“President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, “I want to get a better picture of what our options are.” After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding “sense of the Senate” resolution that calls the such a tax “a massive tax increase that will cripple families on fixed income and only further push back America’s economic recovery.””
For those not in the know, the Value-Added Tax is a scheme under which an item is taxed evey time “value” is added. For example, imagine a freshly felled log. When that timber becomes unfinished lumber, a tax is assessed. When that unfinished lumber is finished, say, by turning it into a table or wood flooring, it is taxed again. The tax at each level becomes part of the cost of doing business, which is, in turn, passed onto the consumer and, ultimately, acts as a “hidden” sales tax, payable by the end-consumer, i.e. you and I. And, while I appreciate the “sense of the Senate” vote, I would remind the reader that the “sense of the Senate” vote on Kyoto was 95 to o, yet, even as we speak, the Democrats in Congress are dithering whether to push climate legislation or amnesty for illegal immigrants “immigration reform.
Speaking of dithering, Obama has not fully embraced the VAT, since, y’know, that would require taking a position that, based on the Senate vote, is a hill not even “his” side is willing to die on… yet.
Neither were the Dem numbers for health care impressive until the arm twisting began. Considering how taxes??, once enacted,? never seem to go away, I fully expect a VAT tax. This president has proven two things beyond any doubt: 1) Europe is the socialist model of choice for the progressives, and almost all of Europe suffers under a VAT. And 2) Obama lies like a naughty child, and when confronted he lies about lying and fully expects you to believe him.
?I have no doubt that more dems will jump on their swords for this. Hell, do the numbers on “retiring” critters + the ones who already know they’re going to lose + when it comes down to it…. A bunch of Repubs who will believe it’s the only way to reduce the deficit, and the necessary thing to do.
? Remember also all the folks protesting to get their taxes raised to save their union?and ?public sector (that was redundant) jobs.
Obama to the American people=DAMN THE ECONOMY… FULL SPEED AHEAD
Try this on for size: I was perusing Ebay for some underwater dive gear, and I came to a seller in Germany. He stated that the price was $1700 or so, but only for the U.S. Europeans had to pay a 19% VAT on top of the $1700!! Does that sound like fun, or more importantly, conducive to a growing, vibrant economy? Nosireee!
Once this barn door is open, the pols will never let it shut again!
My new slogan: "VAT THIS!"