Obama administration already laying groundwork for VAT

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According to the New York Times, the Obama administration’s economic team is already running the numbers to prepare for the possibility of instituting a national value added tax. A more aggressive approach would seek quick action on Social Security.

One way to reach that 3 percent goal, by the calculations of Mr. Obama’s economic team: a 5 percent value-added tax, which would generate enough revenue to pay for the looming costs of the recently passed health care legislation...

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