THE SILENT KILLER: OBAMA’S VAT PROPOSAL

"In 2011, we will have three choices:

a) Raise taxes up to 40%

b) Cut spending down to 30%

c) Or half and half

Now Obama proposes the ultimate step to convert us into a European nation – the VAT.

The VAT (value added tax) is levied at each stage of a commercial transaction. So the raw material seller charges the manufacturer who then adds a new tax onto the price when he sells his finished product to a retailer who then adds on a new levy when he sells it to a customer.

And the customer doesn’t know it." [DickMorris]