Friday, June 12, 2009

Here Comes the VAT Tax

America's growing debt problem is coming with a price. A BIG price and the middle class are going to be the ones doing the majority of the heavy lifting. As Fortune Magazine points out, the new debt load our current administration is piling up is too great for just the rich to pay. It will ultimately be pushed down to the electricians, secretaries, truck drivers, nurses (you get the picture) to pay for the spending habits of Obama and his minions.

How is the current administration going to pay for all of this stimulus, ObamaCare, new programs, Afghanistan spending? With the introduction of a Value Added Tax. It will be the death knell to America as we know it. Obama's favorite Chief Ballerina, Rahm Emanuel, is lobbying the current administration to implement this tax ASAP.

The VAT tax is a consumption tax just like your state sales taxes that you pay, but instead the tax will be paid directly to the federal government. If paying your federal income taxes wasn't enough, its a way for the Feds to get into your pocket with EVERY purchase you make.

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