re: #498 unrealizedviewpoint

Imagine the size of the Tea parties when a VAT is imposed?

A VAT will be a tough pitch for the foreseeable future. It will be at least a year before the populace begins to feel the effects of an improving economy, and there will be huge resistance to any new taxes until people have been feeling flush for a while. About that same time, as the housing market slowly begins to rebound and the impact of trillions of dollars worth of money-printing begin to fuel inflation, a VAT would be the equivalent of increasing inflation at a time when it will already be on the rise. All that, coupled with a general resistance to new taxes, will probably scotch the idea for at least two to three years, and even then it will remain a very tough sell.