Punching Stupid and Evil in the Face Since 1986!

"We are on strike, we the men of the mind. We are on strike against self-immolation. We are on strike against the creed of unearned rewards and unrewarded duties."-John Galt

Wednesday, October 7, 2009

Sorry, it is a tax hike on the middle class Nancy.

Not only would a VAT tax increase taxes on the middle class-it will further decimate our base and further erode small businesses ability to turn any profit at all.

A new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.
Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.
"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.
The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.

Yes Nancy I agree-let's put everything on the table and give it the scrutiny it deserves....like pet projects, like waste and pork throughout the government, like the take over of the health care system.....I could go on and on.
To try to sell this as not being a tax increase on the middle class is a complete and total lie. Anyone, who buys anything EVER will pay this tax. Never mind the added layer of bureaucracy and government waste that is sure to follow. Thanks for once again throwing small business under the bus Nancy.