V.A.T. (Value Added Tax)When my wife and I were in Europe last year I was surprised at how much sales tax was added to everything we bought. From food to hotel rooms, in the countries we visited, there was an 18% to 20% tax. Everything we bought! Wow, I wondered how these people could afford to eat and, well, just get along with a 40% income tax, really expensive gasoline and heating oil and high taxes on everything? Not very well. Well we found out this sales tax was called a Value Added Tax on all goods consumed and used. This is how the socialist countries in western Europe pay for the entitlements to the people (i.e. Single Payer Health Care, Welfare, etc. etc.) So the Europeans get all these goodies, but they pay through the nose and everyone is equally poor.
Did you know the national health care system in the U.K. is the largest government agency in the world, even bigger than the railroad system in India, which is pretty damn big.
Get ready for the Value Added Tax, coming soon. (My prediction)
