The VAT Cometh
This massive new entitlement needs a cash cow.
(By Charles Krauthammer, National Review Online) - As the night follows the day, the VAT cometh.
With the passage of Obamacare, which created a vast new middle-class entitlement, a national sales tax of the kind almost universal in Europe is inevitable.
We are now $8 trillion in debt. The Congressional Budget Office projects that another $12 trillion will be added over the next decade. Obamacare, when stripped of its budgetary gimmicks — the unfunded $200 billion–plus doctor fix, the double-counting of Medicare cuts, the ten-six sleight-of-hand (counting ten years of revenue and only six years of outflows) — is, at minimum, a $2 trillion new entitlement.
(By Charles Krauthammer, National Review Online) - As the night follows the day, the VAT cometh.
With the passage of Obamacare, which created a vast new middle-class entitlement, a national sales tax of the kind almost universal in Europe is inevitable.
We are now $8 trillion in debt. The Congressional Budget Office projects that another $12 trillion will be added over the next decade. Obamacare, when stripped of its budgetary gimmicks — the unfunded $200 billion–plus doctor fix, the double-counting of Medicare cuts, the ten-six sleight-of-hand (counting ten years of revenue and only six years of outflows) — is, at minimum, a $2 trillion new entitlement.
posted by BP News Bureau | 12:00 PM
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