If you watched Roy Cordato?s address to Goldsboro?s Tea Party crowd last week ?
? you might have noticed his description of the ?granddaddy tax of them all, which is coming down the pike, the European socialist-style value added tax.?
Robert J. Samuelson pans the same tax in his latest Newsweek column:
Does anyone believe that Americans wouldn’t notice 16 percent price increases for cars, televisions, airfares, gasoline?and much more?even if phased in? As for a VAT’s claimed benefits (simplicity, promotion of investment), these depend on a VAT replacing the present complex income tax that discriminates against investment. That’s unlikely; the needed VAT rates would be implausibly steep. Chances are, we’d pay both.
