Heres some new change for ya, for those that havent heard, we may have a new way to fund the health care initiative (and many other gov't programs). Obama is considering (I think the exact term would be it has not been taken off the table) a VAT (value added tax). That means that, as goods are produced, they are taxed on the increase in value of the goods as they move through the manufacturing process. This tax will fall solely on the consumer.
http://news.yahoo.com/s/ap/201...n_bi_ge/us_obama_tax
While a tax that is based on spending might seem to be a great idea, and I would support moving to a 'spending' type tax system (where you pay sales tax only and no income tax, which encourages savings and taxes 'undeclared' money like drug money when it is used to purchase legal items), this is not a move to the VAT system. This would be in addition to the Income tax we already pay. Basically, the government is beginning to understand that, since raising the income tax would be political suicide, they are going to need to find new and exciting ways to fund their entitlement programs. This would be an easier sell for them. They'll spin it something like this: "This is a voluntary tax, you only pay it if you buy the items that qualify for VAT" and "you can always choose to save your money." But dont be fooled, this is a tax increase, like it or not.
Study up, know whats coming.....
Jeepin'
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