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BRAD S
Member since May 2012
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Our turn ?

- James Howard Kunstler -

And I will add one more comment - the last 4 days I have seen many financial gurus and talking heads pound out the pros & cons of an American VAT Federal sales tax system. Seems many have raised this flag to see which way it flies. What I dont understand is JUST HOW will they sell this idea to the American people who feel they are over-taxed as it is. The major concern here is that a severe situation or event occurs that Obama will use to ram it thru screaming "Its the only way we can get thru this Recession and reduce the sky-rocketing US Debt." So JH, what happens iof the people dont buy it? A Govt that spends few Trillion here & some there... all adds up to a real mess! Anyone notice we have stopped talking in Billions these days...? On top of the obvious impact of a Fed VAT, theres another juicy angle the states and Us Govt would love to get their grubby little hands on - taxes on Internet sales - this will hand it to them on a plate. I would like to remind any readers that Aust's VAT is 10% and UK VAT is 17.5% - so the American population should be very afraid of a US Fed VAT even if it starts out at 5% as it will never ever stay there...! Of course, I doubt we would ever see such in the Core Inflation calculations...

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