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Thursday, April 22, 2010

Obama Opens the Door to a "Value Added Tax" Despite "Firm Pledge" NOT to Raise Taxes - Video 4/21/10


Here is video of President Obama on CNBC yesterday, where he opened the door to a "Value Added Tax" (VAT). This, despite the fact Administration officials have said all week a VAT tax is NOT under consideration.

Obama said:

"You know, I know that there's been a lot of talk around town lately about the value-added tax -- that is something that has worked for some countries. It's something that would be novel -- for the United States."

Worked for some countries? Well, if you call burdening citizens with a 20%+ VAT on all purchases "working," then I guess you are Barack Obama. This is the same President who made a "firm pledge" to NOT raise taxes on anyone making less than $250,000 a year. As with most things Obama says, I guess that has an expiration date too:

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