I've heard that the VAT idea is something Rahm Emmanuel's brother came up with and not endorsed by the administration, to be fair. OTOH it's clear that Obama's current spending proclivities are not sustainable by the present income model. Something has to give. I suspect that it'll start with the stereotypical Dem class warfare scree against the "wealthy" and the top earners will get hosed by all sorts of new taxes. Not only will that not be enough but it'll further depressj ob creation (who do these idiots think create jobs anyway?) so then they'll move on to lifestyle taxes. Smoke? Another few bucks,please! Drink sodas? $.05 a can tax, Of course, the Annoited One will then claim he has held to his promise because all these new taxes will fall on the rich, or businesses, or on optional lifestyle choices.

Business, capitalism, and wealth are the engines of growth and recovery and all three have been declared war on by the current gaggle of pinheads. So be prepared for a long period of stagnation and pain. I think history will see Obama as Carter on steroids.

>Obama is the biggest ideologue we've had as President since FDR. He will do what he wants to do and it'll all be cloaked with BS...and then the sheeople will wake up and realize they are paying 2-3K more to the Feds than they used to. Too late then.
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>My sentiments exactly. I hear that he does not dismiss the idea of a 20% to 25% VAT after he promised to reduce taxes for 95% of working Americans. This guy scares me to death.