The real reasons for a VAT in the future in the U.S.:
1) Less income for the average taxpayer means less income tax paid, we can’t have that.
2) To get their share of the underground economy. Go ahead and earn your money off the books, but we’ll get you when you spend it.
3) It’s easier to keep the relatively small number of businesses in line than to be chasing down individual taxpayers.
4) To get more money out of honest rich people who don’t have income but are living off their accumulated wealth.
I like #2 but it will have the effect of killing local commercial outlets in rural communities. We’ll just switch back to a trade and barter system, and the fed will be none the wiser that we even exist.
-Oz
If the general public had 50% of my knowledge of psychology, sociology, and economics (and how they effect one another)the White House would be burning right now! As soon as these new taxexs are implemented Volker’s office will probably have to be checked for suit-case nukes on a daily basis. I can’t imagine what Obamanauts will do when they see and experience the fallout of his policies! I feel sorry for you city folk. You’ll suffer the worst because you don’t have room for cattle, or farming. This will mean that your ability to participate in barter will be very limited and costly.
-Oz
...and the most important point is that a politician never needs to raise taxes again as inflation does it for you.