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Obama's Value Added Tax (VAT) on All American Goods

submitted by blankfist

1 decade 4 years 10 months 3 weeks ago

VAT is value added tax, or national sales tax, on all items bought and sold in the US. For example, in the furniture industry the wood would be taxed when it's sold to the manufacturer, it would then be taxed again whenever it ships, taxed again when sold to distributors and lastly taxed again when sold to retailers.

That's a lot of tax.