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“VAT coming up!”

...and collections from healthcare reform, and the end of Bush tax cuts. Basically increased taxes, but not decreases in spending. Oh wait, cuts in the military...

I've noticed a increasing drumbeat for a VAT by the pro Obama folks on the Money and Finance shows. Some analyst on CNBC was saying that regardless of whether Democrats or Republicans control congress after 2010, the next congress would have NO choice but to implement a VAT or risk the US ending up like Greece. I predict Obama’s hand picked deficit reduction panel is going to come out with a VAT as it's centerpiece. Then the democrats strategy will be to try and force a VAT by painting a picture of a stock market crash and US default on debt and accusing Republicans of opposing deficit reduction for not going along. The Republicans better not fall for it, let Obama run in 2012 on a VAT. The last democrat that ran on massive tax increases was Mondale, and that election turned out pretty well.