Did you see the headline on Drudge? The article's from Washington Post.
They want to put in 10% national sales tax, a.k.a. value added tax (VAT). Just about everything, every service will go up 10%, plus whatever state sales tax you have.
Obama's budget director has hired the brother of Rahn Emanuel, a VAT advocate, to help him in "health care".
This is just nuts.
since marcus did not say it, i will say it
its baked in...
keep the dollar propped due to woes of other countries.
put in a vat, so it is not a tax hike for all. only for people who spend more. perhaps put in a tiered VAT, higher for first class flying nieman marcus shoppers and high end customers, lowest for dollar tree shoppers.
dollar tree shopper vote them to office again.
VAT pays for salaries of the gov expansion.
first class flyer votes dont matter anyway.
You don't understand VAT. VAT is added to EVERY sale or service even between companies rather just at the cash register and final sale. It's a compounding tax, which is why everything is horrid expensive in Europe.
Go to Sweden...I paid about $280 per night for a room in a mid-level hotel and paid $50 for a cold cut sandwhich and two pints of beer. The VAT is 21% there...
same in belgium, germany, etc.
oblome will turn this country into france.
better learn how to throw down a gun quickly, get by with one shower per week, and get in touch with your feminine metrosexual side...
as for me....thank God i'm in texas!!
There goes Ebay if that happens...the main reason I buy online, besides good deals and saving a buck on used, is to avoid sales tax (nearly 10% in CA).
It was bound to happen tho...you have to tax the poor thru sales and lottery to pay for the over-excesses of the rich, powerful, and undertaxed insiders.
Perhaps they can find a way to justify taxing food. That would put most people over the edge and into the FEMA camps for a cheaper labor force.
So that 10% sales tax is on top of the 10% local sales tax I already pay. So for me, that's 20% from what's left over from the my income after the state takes 4.5% and the fed takes 30%?
On top of that I need to pay a $4500/yr realestate tax?
Yeah, this US economy should really f*cking flourish....
"And the threat of a VAT could pull the country out of recession, some economists argue, by hurrying consumers to the mall before the tax hits."
"And in a paper published last month in the Virginia Tax Review, Burman suggests that a 25 percent VAT could do it all: Pay for health-care reform, balance the federal budget and exempt millions of families from the income tax while slashing the top rate to 25 percent. A gallon of milk would jump from $3.69 to $4.61, and a $5,000 bathroom renovation would suddenly cost $6,250, but the nation's debt would stabilize and everybody could see a doctor."