Look for a value added tax during Mr. Obama’s second term.
It will be a great way to help finance his spending habit.
A value added tax (VAT) is a form of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale.
Most of Europe already has a value-added tax.
The photo above shows an automobile with all of its component parts displayed. Each time value is added during the making of the car a tax is added which is included in the price of the vehicle.
The value added tax is a "tax and spend" politicians dream.
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