Wednesday, November 17, 2010
President Obama’s Cat Food Commission fired another salvo in their war against America’s poor, elderly and disabled today, calling for a staggering 6.5% national sales tax every American consumers would be forced to pay on food, goods and services.
To reduce the debt, we would supplement our spending cuts with a 6.5 percent “debt-reduction sales tax.”
Got that? If you’re poor, retired or disabled and spend a modest, income-driven $40 a week for food, or $160 a month, you will pay an additional $10.40 in “debt-reduction sales tax” on your food purchases.
Many of America’s poor, elderly and disabled are already living on the margins and if they’re forced to pay an additional 6.5% “debt-reduction sales tax” they will be driven even deeper into poverty.
What the “debt-reduction sales tax” amounts to is a VAT tax. For those of us who have traveled to Europe are familiar with VAT or V.alue A.dded T.ax. American tourists visiting Europe can file for a refund of VAT but, resident of the European Union aren’t so lucky. Rest assured, of “debt-reduction sales tax” becomes law, it will be 6.5% now and rise to 10% in a decade.
It is unfathomable to me that Obama Inc. keeps looking at ways to make America’s poor, elderly and disabled responsible for paying off George W. Bush’s economic malfeasance.