A disaster for the American economy potentially worse than the subprime mortgage mess is now on the Democrat drawing boards. It is essential that Americans understand what these people are about to do to this country. Desperate to pay for Obamacare and to recoup the untold billions of dollars thrown away as gifts to the banks, the Democrats are planning on introducing a European-style VAT (value-added tax or national sales tax on crack).
A recent news article reports: “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… 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 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. Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill’s production work and so on up the line to the retailer.”
The VAT is one of the reasons why private enterprise is almost extinct in Europe except through huge multinational corporations who can afford the crushing taxes on their raw materials and retail. Small businesses simply can’t function; the VAT wipes them out what little profit they have nowadays.
The article notes “When asked if he could see a potential VAT in this nation, the president said: ‘I know that there’s been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It’s something that would be novel for the United States. And before, you know, I start saying ‘this makes sense or that makes sense,’ I want to get a better picture of what our options are,’ Obama said.”
Quick, Rahm! He’s wandered out where the reporters can find him! Go get his black butt back to reading the teleprompter.
Largely because of VAT and all the other crushing taxes leveled by the socialist governments in places like Britain, Ireland, Germany, Denmark and Sweden, the majority of the people of those countries must live in what is called council housing or other government-owned housing because no one can afford the exorbitant rent for the few properties still privately owned. This may well be one of the plans the regime has for all those foreclosed houses.
The VAT along with the confiscatory income tax (e.g. 64% basic rate in Ireland) leaves most Europeans with so little money that they’re little better off than poor Americans. Once a tax is introduced in this country it will never be repealed because even if the Republicans get back in, they will want all that lovely money to give to their corporate buddies. Remember, the income tax was originally supposed to be only a temporary tax on the top two percent of Americans to pay for World War One–which ended in 1918. But the income tax and the IRS are still here, and they tax anyone with a job now.
