How do you deal with huge deficits – ummmm – stop spending. Oh no that’s not the right answer – you keep spending and then tax.
Do you feel like you are already paying too much in taxes? Do you feel like you’re economically stretched beyond your limits? Obama and his fellow Washington progressives to the rescue. Their idea of helping you out of the financial crisis is to add more taxes. Yep that’s right, Obama and Congress are considering adding more taxes to your financial burden. In addition to income taxes, property taxes, sales taxes, investment taxes and payroll taxes; the administration is talking about adding a Value Added Tax (VAT).
A Value Added Tax (VAT) is a hidden tax. You do not see the tax directly, it’s not like you file a tax return for it, it’s not on your receipts when you make a purchase. It is a secret way for the federal government to raise taxes without you knowing it.
Remember that Obama did promise us he would not increase taxes on households earning less than $250,000. The VAT tax is a perfect cover to let Obama win – he will let Obama have his cake and eat it too. He will keep his promise to not raise taxes and he will still receive tax revenues. But guess who loses in this deal – you do, every time you make a purchase.
The Value Added Tax is applied to each step in the production of a product. It is passed onto the consumer in higher costs at time of purchase. Europe already uses the VAT, which is one of the reasons why they pay $8 for a gallon of gas vs. our $3.
Here is how the VAT works: raw oil is drilled and sold it to a refinery – a tax is applied to that transaction. As the oil goes through the refinery process, another tax is applied onto that transaction. The refinery then sells it to a distributor, you guessed it, another tax. The distributor then sells it your local gas station, yes, another tax. You as the consumer do not see all those taxes – but you the consumer will be paying for all those taxes at the time of purchase. (www.wikipedia.org)
Don’t be fooled, Obama and his democrats in Washington need tax revenues. They need money to pay for all of their social programs. Even though more taxes is the last thing this economy needs, Obama & Company cannot finance their social engineering without more money. The thought never occurs to them to stop their our of control spending.
Do you personally get to keep on spending when you are deep in debt or do you face consequences? And then do you get to find someone who will give you a pass on all of that debt? No!! So why does the government get a pass and why do they get to dump all of their debt on us? Why is the government not forced to pay down the national debt? Why are they allowed to keep adding onto the national debt? Our national debt is currently at $12.3 trillion. (www.ustreas.gov). Shame on this administration. Stop your spending. But this is typical liberal standard operating procedures – tax and spend.
America, unless you are ready and able to pay exorbitant prices on everything you purchase from bread to gasoline to automobiles, you had better step up and make a change this November. You had better vote this November to fire this group of progressive, liberal, elitist democrats. Stop them before they run this country into the ground.