Your Money and Your Health
'Everything you buy is about to become 20% more expensive...
I'm not kidding. The latest idea out of Washington is to pay for its insatiable appetite for spending with what's called a "Value-Added Tax."
It's like a huge new national sales tax, on everything. In simple terms, the difference is that with a sales tax, the consumer pays it. With a "VAT," the manufacturer pays it. The consumer won't see it in the price on the shelf or on their receipt.
Politicians love this tax because it's a stealth tax... You can't see it when you buy something, but they still get their money. And unless you make your voice known, chances are excellent we'll eventually have a Value-Added Tax here.
The thing is, making things 20% more expensive here and giving that money to politicians won't save America. It'll make us less competitive. For Exhibit A, consider the state of European governments right now...
Greece, for example, has a VAT of 21%. Its government is bankrupt. The Value-Added Tax didn't save Greece.'
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Value-Added Tax
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stealth tax
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