VAT Tax Is Coming

Beware the VAT: Why the consumption tax is coming – (Summary of article) A brief interview with a Congressman who has been right more often than wrong on what will happen in congress as far as taxes go. It then explains that, at the federal government’s current spending levels, they have no choice but to pass it. Income tax increases would not provide enough new tax income to keep the people who buy US Treasury bonds happy.

When the VAT comes, there are ways to get around it. Here are a few:

1. Buy used items from individuals.
2. Buy from as close to the source as you can. When buying produce, go to farmer’s markets or other locations where the growers are.
3. Make it yourself. If you can make something yourself, do so.
4. If something is not working, don’t replace it, get it fixed.

In my opinion, a VAT would be a staggering blow to the US economy. But, I also think it might lead to better spending habits.