Obama Now Saying He Is Open To The Value Added Tax

The AP reports that "President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days... After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding 'sense of the Senate' resolution that calls the such a tax 'a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery.'" The VAT is an intrusive tax kept hidden from the consumers, but that severely impacts consumers, by taxing the "value added" at each stage of production of certain commodities. Tweet