PrintAugust 16, 2010
Do We Really Need a New Tax?
Why would our politicians want to impose a newfangled tax (at least for America), called the VAT, that the Heritage Foundation says would give us "a stagnating economy, higher budget deficits, and fewer jobs for American workers"? Washington Post columnist Charles Krauthammer has the answer. He calls the VAT "the ultimate cash cow" that will produce "a river of revenue" for the government -- a river of revenue, experience shows, that won't be used to reduce income taxes or the deficit, but will make more Washington insiders wealthy and provide funds to buy votes and keep our career politicians in office. As Forbes magazine puts it, "The hidden nature of the VAT means it consistently moves higher -- without taxpayers' knowledge." Republican House leader John Boehner explained on his website, "Unlike a state or local sales tax, the VAT isn't itemized on a receipt. This makes it that much easier for politicians to tighten the vise on...(Read Full Article)
