There are many forms of taxes. Some are broad-based, such as the cap-and-trade carbon emission program, the payroll tax, income tax, or a national sales tax that the Europeans use so widely.
The latter is also known as value-added taxes or VAT. In VAT, taxes are added at every level of sale and can become enormous. They are popular as a means whereby government can easily impose layers upon layers of taxes on the public after politicos have exhausted conventional means.
It has been estimated that the Obama Administration’s budget plan may need another $16,000 per household to balance the ever-growing budget deficits, according to the Congressional Budget Office. This can come only from a VAT that will affect everyone, the poor and the middle classes who the politicians have sworn to protect from tax increases.
So much for political promises.
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