"History is a wonderful thing, if only it was true"

Sunday, February 14, 2010

What's VAT - likely new taxes

I expect that this will be coming ... maybe alternative to "income taxes"
And with pending demographic changes, it might work.

Economic View - What’s Sustainable About Obama’s Budget? - NYTimes.com:

"...unless the president revises his spending plans substantially, he will have no choice but to find some major source of government revenue. Ms. Pelosi’s suggestion of a VAT may be the best of a bunch of bad alternatives. Unfortunately, in this new era of responsibility, the president is not ready to face up to the long-term fiscal challenge."

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