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FOXNEWS

May 29, 2009

Cap and Trade and a Value Added Tax

--Mouse droppings - Repeal the 16th Amendment!

Breaking News - Could There Be a VAT in Your Future?

Things are moving pretty quickly in Washington these days.

Here is a Washington Post headline called "Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look."

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/26/AR2009052602909.html

To summarize, the President and Congress are considering a VAT (Value Added Tax) that might coexist with some changes to the income tax.

Here's what the Post says about a VAT.

"A VAT is a tax on the transfer of goods and services that ultimately is borne by the consumer. Highly visible, it would increase the cost of just about everything, from a carton of eggs to a visit with a lawyer. It is also hugely regressive, falling heavily on the poor."

While the increase in retail price is highly visible, the actual tax is not because a VAT is embedded into the price of the goods or services as they move through the manufacture or delivery process. So the price you pay will be high, but you won't know how much of that price is the VAT. Just as you don't know how much of the prices you pay today are the result of income, payroll, and other taxes and tax compliance costs of the businesses that create and sell what you buy.
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Investor's Business Daily was right on top of this story with a poll.
http://www.ibdeditorials.com/Polls.aspx?id=328320428336434

But when do politicians listen to polls that they disagree with?

Senator Dianne Feinstein (D-CA) was bold enough to state on the Senate floor during the TARP debate in September that her office had received over 85,000 calls from constituents running 95% against the bailout, yet she voted for it, because she knew better.

Look at Congressman Henry Waxman. With encouragement from the president, he is going full bore to get a Cap and Trade bill onto his desk despite similar polls showing vast disapproval of the idea.
http://www.ibdeditorials.com/Polls.aspx?id=327111385953165

When you look at these polls, you'll see that about 10% to 15% (look at the "Not Sure" percentages) of Americans are clueless or uninformed about their government.
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Please forward this message to everyone in your contact list.

Cap and Trade and a Value Added Tax are both targets that the TEA party movement must address.

The possibility of an income tax and a sales tax should have the entire country up in arms.

Best Regards,
John Hanson

Repeal Income Tax July 12th Movement
http://www.repealincometax.com/DOM/?T=201000796-2002a

P.S. If you are not the original recipient of this message, please sign the Declaration to Repeal the Income Tax Amendment right now.
http://www.repealincometax.com/DOM/?T=201000796-2002b

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