By Bob Parks ——Bio and Archives--May 29, 2009
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With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax. Common around the world, including in Europe, such a tax — called a value-added tax, or VAT — has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.So, in other words, Obama has spent so much and wants to spend so much more, that the only way to save the government from its own lack of fiscal discipline is to tax everything 10 to 14 percent over and above what we pay for goods now. More sound thinking from our federal government.
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Bob Parks is a is a member/writer of the National Advisory Council of Project 21. Bob’s websites are Black & Right and youtube.com/BlackAndRight