Hooray for Taxes!

Let’s face it. The newly-signed health care reform bill is not deficit neutral. The bill will cost this country a lot of money. Already the Obama administration is scrapping to find ways to fund such an ambitious venture. Starting July 1, the government will seize control of all student loans. Consequently, they will be raising the interested rates on the 19 million loans costing holders of said loans approximately $1,800 per year. On top of re-raising taxes on the top two percent, there are signs that the administration may levy a Value Added Tax.

While not familiar to many in the United States, the Value Added Tax, or VAT, is very common in the European Union. The VAT is applied to all goods from the manufacture level up to and including the consumer end. In most European nations, the VAT is upwards of 20% on all goods. Paul Volcker, chairman of the Economic Recovery Advisory Board under the Obama Administration, has suggested the use of a VAT stating yesterday that is “was not as toxic an idea.” He further added, “if at the end of the day we need to raise taxes, we should raise taxes.” The target is back on the heads of middle-class America.

I’m no economist, but let’s work this through. Approximately 10% of the nation is unemployed. Businesses are struggling to survive is this recession. Let’s add another tax. Businesses have less money to pay workers so they lay them off. How is this helping the economy? Exactly. It’s not. I am at the point where I wonder if the Obama administration cares about the economy.

You ever notice that the Obama administration rarely talks about jobs? They’ll talk about health care, Israel, the Big Bad Banks, etc. all day, but why haven’t they focused on jobs? Maybe because a poor economy helps their agenda. But what do I know? I’m just a normal citizen, a peon to the brains of Washington.

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