That’s No Blimp, It’s a Tax-Hike Trial Balloon.

There is a move afoot among Democrats to soften us up for some form of value-added tax (AKA: the VAT) like many countries have in Europe. Both the White House and the Democratic leadership in Congress are big fans of slapping a national sales tax down on top of all the other taxes we’re paying on the mistaken notion that it will help reduce the President’s staggering deficit and somehow pay for Obamacare at the same time while not doing an ounce of damage to an economy already badly-wounded by progressive financial shenanigans.

Of course, if the VAT were such a miracle tax, none of the nations in Europe would be running the deficits they are and all of them would have prospering economies to go with their cradle-to-grave government-run health and welfare systems.

Then again, if you’re good with double-digit inflation for more than a decade but lots and lots of government control, then the VAT is probably right up your alley. Of course, that’s not exactly the smartest way to long-lasting political power. Ask the Canadians.

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Category: Our New Democratic Overlords, The Economy and Your Money