Beware the VAT

A new video from the Center for Freedom and Prosperity Foundation details the effect that a Value-Added Tax, recently proposed by Nancy Pelosi as a way to pay for unfunded liabilities, would have on the American economy. Very, very well done.



    WASHINGTON – The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy.

    The imbalance for the budget year ended Sept. 30, more than tripled last year's record. The Obama administration projects deficits will total $9.1 trillion over the next decade unless corrective action is taken.

  2. Manage your own stuff dude says:

    LOS ANGELES (Reuters) – Actor Nicolas Cage filed a $20 million lawsuit against his former business manager on Friday , accusing him of negligence and fraud that sent the "National Treasure" star "down a path toward financial ruin."

    Cage claimed that his recently-fired business manager had failed to pay taxes when they were due and had placed him in speculative and risky real estate investments "resulting in (the actor) suffering catastrophic losses."

  3. JOHN ADAMS says:

    I want Independence from THIS government.

  4. Rix says:

    As an alternative for income or estate tax, VAT is good. But as additional burden, it will – hopefully – become the last straw. People may eventually realize that Congressional salaries are also one of those "unfunded liabilities"…

  5. Gail B says:

    Good Lord, does this ever end?

  6. Gail B says:

    Jeff, did I send you this, about the Copenhagen Treaty this December that will trump our Constitution? They're expecting Obama/Soetoro to sign it. It's about climate change.

    WE ARE TO CALL OUR CONGRESSMEN AND TELL THEM TO STOP THIS THING!!! Don't ratify it in the Senate; don't vote for it if it goes to both houses.

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