Wednesday, April 21, 2010

The Road To The Farm Was Paved With Lots Of Taxes: The VAT tax again

In a ramp up to the Europeanization of the United States, President Obama said he supports a VAT for the United States. According to Charles Babington of The People's Associated Press, 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.

This is no surprise to The Right Guy, who ran an article on the subject over two weeks ago. What is also not surprising is the speed the fabian finocchio in chief is moving on the Europeanization of this country. November and actually January is coming quickly. Time is running out and look for the mountebank in chief to go for the full court press.

So, do you want to be a sheep, a cow, or chicken?

Thank you for reading this blog.



ZZMike said...

He has said he wouldn't, then that he might, then that it's "still on the table" (I hate it when they throw out poker analogies.)

One Realist from the century before last said that nothing is confirmed until officially denied.

This is more of a menace than most people think. The key is the words "value added". Yes, it does amount to a national sales tax - on everything. Formerly Great Britain has it - 17.5%. Buy a pencil or a house, pay the government 17.5%. (They want to bump it up to 20%.)

But that's not all. Consider again "value added". Every time "value is added" in the steps in a production, it gets taxed. Start with a tree in the forest: cut it down - value has been added, collect tax. Send it to a mill to turn in into lumber - value has been added, collect tax. Use that lumber to build a house - value has been added, collect tax. Sell the house - value has been added, collect tax. Later on, put on a room addition ....

You get the idea.

But maybe they will realize the brilliance of this VAT idea and use it to replace (and eliminate) some other tax.

There will be skating rinks in Hades before that happens.

Mike Zorn (email is in the Profile)

The Right Guy said...

It's a repeating tax then, and on top of it, other taxes will not go away. It's just another revenue stream to finance their agenda to make us all farm animals.

If you read my comment here:

I break down the taxes in Europe. It's nuts what they accept in peonage.

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