Let me see if I have this straight: Rupert Murdoch's Wall Street Journal reported that 2 out of 435 members of Congress are casually talking - just talking - about a VAT, there's no proposal on the table, and I'm supposed to be alarmed?
Have you noticed the size of
the national debt lately? I'd be a lot more alarmed if Congress
wasn't talking about ways to pay for it. If Congress doesn't balance the budget, inflation & currency devaluation will.
What I'm
not hearing are proposals to uncap the $106,800 FICA capped taxable amount, (it's currently a regressive tax - the higher your income, the lower the percentage you pay) cut off appropriations for the "war" in Oil-raq and Pipelineistan, (currently ~$1 Billion per
day) put even a 1% transfer tax on financial securities, cut off TARP spending or other corporate welfare, scale back the cost of the thoroughly ineffective
drug war, (currently ~$1 Billion per week) cap interest rates or tax unearned income at a rate at least equal to the rate on earned income.
That's what alarms
me.
