Make no mistake - this is a tax on the poor!
I am sure Obama will redistribute wealth to give VAT subsidies to the poor minorities. Poor whites are screwed.
Not when the poor get massive tax credits for taxes they never paid.
Not gonna be a tax on the poor. Obamma will structure it such thatpeople earning below a certain threshold will receive a so-called refundable tax credit of thousands of $ to make them whole.
As usual, the producer class will be burdened with this.