Spend It Now! A Huge New Tax Is Coming…

[MarketNeutral]

Everything you buy is about to become 20% more expensive…

I’m not kidding. The latest idea out of Washington is to pay for its insatiable appetite for spending with what’s called a “Value-Added Tax.”

It’s like a huge new national sales tax, on everything. In simple terms, the difference is that with a sales tax, the consumer pays it. With a “VAT,” the manufacturer pays it. The consumer won’t see it in the price on the shelf or on their receipt.

Politicians love this tax because it’s a stealth tax… You can’t see it when you buy something, but they still get their money. And unless you make your voice known, chances are excellent we’ll eventually have a Value-Added Tax here.

The thing is, making things 20% more expensive here and giving that money to politicians won’t save America. It’ll make us less competitive. For Exhibit A, consider the state of European governments right now…

Greece, for example, has a VAT of 21%. Its government is bankrupt. The Value-Added Tax didn’t save Greece.

Italy and Portugal have a VAT of 20%, and they’re only a little less bankrupt than Greece.

Astoundingly to me, the Value-Added Tax in France has now crept up to a full 50% of France’s government revenues. So how are things going in France with a Value-Added Tax?
http://www.dailywealth.com/1312/Spend-It-Now-A-Huge-New-Tax-Is-Coming-

[chad]

i don't know if it's still in effect, but last time i was in switzerland they had 50% VAT at restaurants.

[Ponce]

Spend spend spend is not the answer because later on you will have nothing to spend with.........there will be great bargains in our future and only if we have the cash to spend will we be able to buy them.

We all know by now that the dollar will be worth near zero so that the thing to do is to obtain something that not only will uphold the value of what you have now but also will increase in value.

I for one have all the silver and gold that I need or want so that in order to have my spending cash for what is to come I have Canedian dollars, Canada has to many natural resources and their grain fields are to larger for them to fail as the US is doing. The US dollar will dank and the Canadian dollar will go up.

"Get ready today for the way that you want to live tomorrow"... Ponce

[lim]

this will be horrible for competition; but with rising inflation we're going to have rising costs anyway; this will just slide under the rug in the eyes of the public

[Ponce]

Jim, like I wrote before........Remember the movie "Soylent Green?", a small jar of jam cost them $175.00 of their new dollar.......but......if you had silver and were to traded for their new dollar then the price of that jar of jam would still cost you $1.75 as it is today.

[agnut]

Jim, like I wrote before........Remember the movie "Soylent Green?", a small jar of jam cost them $175.00 of their new dollar.......but......if you had silver and were to traded for their new dollar then the price of that jar of jam would still cost you $1.75 as it is today.


Hey Ponce, if this VAT tax goes into effect, can you imagine the amount of bartering and horsetrading that will be going on ?

Oh boy oh boy !!!

Best wishes,

agnut

[Ponce]

Tell me about it, even if I don't pay taxes now I will be paying taxes in the future.

[Horn]

Gosh, if anything would bring them closer to full revolution right now, it would be this.

That stuff in Europe was imposed when there was still some semblance of an economy.

Stupid idea, the only that'll fix the U.S. is massive ,gov layoffs, and then maybe selling all the military hardware.

[7th trump]

Yea.......ok?
But what value is it adding to the product?

[Ponce]

Those at the bottom are now supporting those at the top... the new Ameika.

[chad]

one thing they don't tell you about the VAT either, is that "low" income people will get a rebate check at tax time to make up for what they paid in. again, only higher earners will pay it.

[Carl]

The harder they squeeze the more who slip through their fingers.


one thing they don't tell you about the VAT either, is that "low" income people will get a rebate check at tax time to make up for what they paid in. What are the "low" income people going to use to live on in the meantime?

[chad]

The harder they squeeze the more who slip through their fingers.


one thing they don't tell you about the VAT either, is that "low" income people will get a rebate check at tax time to make up for what they paid in. What are the "low" income people going to use to live on in the meantime?




maybe they'll rebate them on a monthly basis, like a welfare card. they have to rebate them, though. there's no way politicians are going to make huge voting blocks of low income people pay VAT. i mean, don't you think that's what they'll do? dunno, can't see them making everyone pay tax. it won't be "fair."

[Twisted Titan]

Jim, like I wrote before........Remember the movie "Soylent Green?", a small jar of jam cost them $175.00 of their new dollar.......but......if you had silver and were to traded for their new dollar then the price of that jar of jam would still cost you $1.75 as it is today.


Hey Ponce, if this VAT tax goes into effect, can you imagine the amount of bartering and horsetrading that will be going on ?

Oh boy oh boy !!!

Best wishes,

agnut



EXACTLY

EVERYPLACE THAT THEY HAVE DONE THIS THE UNDERGROUND ECONOMY EXPLODES


T

[Horn]

Jim, like I wrote before........Remember the movie "Soylent Green?", a small jar of jam cost them $175.00 of their new dollar.......but......if you had silver and were to traded for their new dollar then the price of that jar of jam would still cost you $1.75 as it is today.


Hey Ponce, if this VAT tax goes into effect, can you imagine the amount of bartering and horsetrading that will be going on ?

Oh boy oh boy !!!

Best wishes,

agnut


Where I am at here in Costa Rica, everything is a joint venture, your land, my materials, customers signatures, bank makes up the difference.

Talk about the Tower of Babel, uuggh!

[cedarchopper]

Another thing about the VAT tax in Europe, at the time, they sold it as an alternative to the income tax, as if the VAT was going replace the income tax. The got double screwed. Europe was also rising from a pile of rubble and the people were psychologically traumatized and much more accepting of state control...it won't be so easy here.

[Ponce]

In my opinion, if they go with the VAT tax then retired people like myself should get their money in the form of a card where what you spend from there (and be able to use it everywhere) is non taxable............

[Golden]

Shouldn't the title be "Pay it forward now!" ?

[dysgenic]

The pitch on the VAT is that it is supposed to reduce the national debt. Scumbags like Glenn Beck, Bill O'Reilly, and Paul Volcker have all publicly supported it. And we all know that it won't reduce the national debt. All it takes is a calculator to figure out why.

[Ponce]

Or.........Pay as you go.