Columnist Charles Krauthammer warns that a value-added tax may be coming soon to help lower the deficit and pay for Obamacare: “For the politician, it has the virtue of expediency: People are used to sales taxes, and this one produces a river of revenue. Every 1 percent of VAT would yield up to $1 trillion a decade (depending on what you exclude — if you exempt food, for example, the yield would be more like $900 billion). It’s the ultimate cash cow. Obama will need it.”
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