Thursday, April 22, 2010

Obama's Open To A VAT (Valued Added Tax) Tax....

Yesterday, Obama left the door open on imposing a new federal sales tax in order to get more revenues to the federal government, reversing previous denials. CNBC notes that Barack Obama’s sudden U-turn on a value-added tax (VAT) has been carefully prepared by subtle changes in his rhetoric on protecting the middle class (emphasis mine): READ MORE...


Visit for breaking news, world news, and news about the economy

Yea, your taxes are going up. We guarantee it...


  1. He didn't say he was open to a VAT. Truth is important. You demand that of the other side. You should practice it yourself.

  2. Why anyone ever believed a word the mystery man read off a teleprompter is beyond me. God help us to all come together to STOP this enemy within from further destroying the greatest nation on the face of the Earth.
    Obama IS the stern faced king of the old testament.
    OIn the book fron 9-11 to 666, Ralph W Stice in 2005 wrote on page 79: "the Muslims fighting for a Palestinian homeland, planning another war on Israel, and rioting when Jewish leaders visit the site of the Al-Aqsa mosque will never, ever ,ever trust a Romanian to negotiate the agreements needed to preserve Islamic gains in the middle east. A "Christian" European will never be counted on by the Islamic bloc to destroy Israel. Muslims put their full confidence solely in other Muslims, brothers in the ummah."
    Go to view the video and read the article under the title "what to do about Obama."

  3. People still think the VAT is just a federal sales tax. That would be bad enough, but it's a lot more than that. It's a "value added" tax. That means that in every stage of production, every time value is added to a product, it's taxed. Start with a tree in a forest. Cut it down - value has been added, collect a tax. Send it to the mill, turn it into lumber - value has been added, collect a tax. Use it to build a house - value has been added, collect a tax. It goes on and on.

    In England, the VAT is 17.5% (and they're considering raising it). Buy a pencil or a house, pay 17.5% VAT. Governments will usually decree that the VAT is included in the posted price, unlike local sales tax.

    The other thing is, this is going to have to create a vast bureaucracy to keep track of every place the value has been added, and make sure the tax is collected.

    At least, that will solve the unemployment problem. Everybody will be working for the government. Heck, we're all working for the government the first 4 months of the year, anyway.