02
Dec
08

A VAT Tax? Are We To Be Spared Nothing?

As if the $8 Trillion being stolen from us as I write this wasn’t enough, this jackass is touting a Eurostyle VAT as the solution to reducing the malignant, metastasizing Federal deficit, set to get even worse under the new Obama regime;

It’s called a value-added tax, or VAT, and it’s been used for decades to pay the bills and sustain the immense growth of governments around the world, from France to Mexico to Australia. Created in 1954 by a French economist, the VAT is the most potent, efficient machine for revenue generation yet invented.

And if there’s one thing the U.S. government needs as the federal budget balloons, it’s a ton of new revenue. “The bottom line is that the income tax cannot support the level of spending that’s projected, something other countries faced years ago,” said Roberton Williams of the Tax Policy Center, a non-partisan research institute.

Number one, this idea, if ever enacted, will rapidly collapse the US economy.

Number two, it won’t matter anyway, because inflation will render the dollar meaningless. Since the feds won’t recognize commodity money, most of the remaining economy will revert to barter and black markets.

Number three, they won’t repeal the income tax, but will simply impose the VAT atop it. Just the thing to do in the face of a Depression. Thanks, President Hoobama!

If this is ever seriously considered and or passed, the US government will have to destroy the last remnants of the Republic in a futile effort to collect it.

Ron Paul, please call your office!


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