Wednesday, April 21, 2010

National Sales Tax Looms Large

AP: '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 days, White House spokesmen have said the president has not proposed and is not considering a VAT.
"I think I directly answered this the other day by saying that it wasn't something that the president had under consideration," White House press secretary Robert Gibb

Yep. It'll happen.
For the record, a Value Added Tax is nothing more then a tax on the individual, as the added cost and overhead of producing, transporting and retailing end-user products are only passed on to customers.

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